LONDON — European stocks are expected to open sharply lower on Monday as global markets track developments in the Russia-Ukraine crisis.

The U.K. FTSEindex opens at 7.370, Germany’s lowest point. Index is 117 points lower. DAX 538 points lower at 14,007, France’s CAC 40 down 228 points at 6,521 and Italy’s FTSE MIBAccording to IG 968 points are lower than the 24,761

The Russian invasion of Ukraine continues throughout this weekend. Russian military vehicles entered Ukraine’s second-largest urbanity Kharkiv. Residents were advised to shelter and report of fighting.

Russia has been subject to more sanctions for the invasion of Ukraine. The U.S. and Canada agreed Saturday that they would remove the key Russian banks SWIFT, an interbank messaging network, from their banking systems. Also, the U.K. has been notified by EU. closed their airspace to Russian aircraft.

Russian President Vladimir Putin put his country’s nuclear deterrence forces on high alert Sunday amid a growing global backlash against the invasion. According to the Defense Ministry of Ukraine, representatives from Russia and Ukraine have reached an agreement on the border between Ukraine and Belarus “without any conditions.”

U.S. stock futuresOvernight trading fell on Sunday due to investors growing concerned over the economic consequences of the Russia-Ukraine crises. shares in Asia-Pacific were mixedOn Monday. Oil futures were higher than 5% and the Russian ruble dived around 29% against the dollarOn Monday morning markets evaluated the effects of Russia’s sanctions.

Signify, Atos and GSK reported earnings on Monday. Data releases included preliminary inflation data for Spain and Portugal for February.

— CNBC.com staff contributed to this market report.