Russia-Ukraine crisis: Stocks jittery while crude surges; all you need to know as the 'invasion begins'

Stocks and commodities kept traders playing Russian roulette as the crisis with Ukraine escalated. US President Biden called the events underway as the start of an invasion. Here is what you need to know.

• US markets shut in the red, Dow fell over 1.4% and 500 stock gauge S&P down 1%
• Dow marked fourth day of losses, S&P 500 down over 10% from recent record high
• Crude oil prices surge, Brent tops $97/bbl experts bet on $100 mark soon
• US, UK, EU kickstart penalties on Russia - cut off from western financing, billionaires close to Putin also sanctioned
• US President warns of more sanctions, says it will be worse than 2014
• Germany halts certification of the Nord Stream 2 gas pipeline following Moscow's actions in eastern Ukraine
• Sanctions imposed after Russia’s President Putin recognized two self-proclaimed separatist republics in eastern Ukraine as independent
• Lawmakers in Russia also gave Putin the go-ahead to use Russian troops outside of the country