U.S. markets ride a rollercoaster session on Monday – making their biggest intraday comeback since the GFC - with the Dow recovering more than 1,000 points. Asian equities fail to follow suit, with the Nikkei slumping to a two-year low. Credit Suisse warns fourth-quarter profit will be negatively impacted by litigation costs of around CHF500m with the lender saying it now only expects to roughly break-even. Moscow says the U.S. and NATO are ramping up tensions over Ukraine as President Biden places 8,500 troops on high alert and NATO sends warships and jets to the region. And in Italy an impasse over the presidential vote looms after more than half of lawmakers’ ballots come back blank in the first round.

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