Russian President Vladimir Putin has proposed a trilateral summit with the United States and China to discuss a potential end to the war in Ukraine, according to reports from The Wall Street Journal. The proposed talks would notably exclude Ukrainian President Volodymyr Zelensky, a development that is expected to cause concern among European allies.
The potential summit was reportedly first discussed in a call between Putin and the U.S. President earlier in the month. Kremlin officials have suggested the meeting could take place on the sidelines of the upcoming Asia-Pacific Economic Cooperation (APEC) summit in November. The proposal introduces a significant new dynamic into the long-running conflict and creates uncertainty for markets, which have been sensitive to geopolitical developments related to the war.
Market Impact: S&P 500 Futures are trading +0.82%, Nasdaq Futures are up +1.32%, and Dow Futures have gained +0.54%. In cryptocurrencies, Bitcoin is +2.04% since the last session close.