Transcript for 'The Big Number': Crisis in Ukraine Affects Global Trading
Okay. It's Monday march 17 the markets are open it -- big number. 96. Point 8% that is the overwhelming majority. -- which Crimea voted to secede with. Actually joined Russia that referendum ratified by crime is parliament -- -- with little opposition. But the US says it won't recognize the vote and is rejecting the results. Are going on down -- their New York the collision course set now between Washington and Moscow putting a lot of economic variables. Into flux so from one economics at all want to bring in Jeff -- finance on this Monday morning. Jeff happy saint -- -- you -- and you my friend so listen yesterday's vote today's ratification not a surprise. No you know it's not and it's a boy they might have overshot a little bit in terms are gone for 97%. Approval on this thing the elections obviously -- I daresay it's obviously allegedly ran a domino offend anyone -- -- that 99% of anybody votes for anything. But I think it really have to do in -- the majority of the crime in people identify themselves as rush and they speak Russian midfield they feel connected to Russia. This vote isn't a surprise I think if they voted again and again the outcome would be largely the same even if it was -- -- what how do we think the markets react -- -- -- any specific sectors industries going to be making some -- movements. Well it's gonna really be felt on the energy front if it doesn't play out according to whole oil and by that I mean. This vote was not a surprise that it could be a 105%. Approval in terms this vote in the market won't be surprised that really went the way. Everyone was batting I get the sanctions and sanctions are -- very big deal the US can -- and anger sort all they want. But in Europe where the economy is very much tied to Russian. -- exports that's a bigger deal that that is going to be huge to see how these sanctions play out. Right now the feeling is that Putin is gonna relax for a -- is going to be Bellic horse. His approval ratings are -- career highs and it would be the economy in the Crimea and situation is really had the best thing he's got to one formed as a Russian economy -- in a bit of a free fall. And so right now I'm not looking for a lot of trades opposite that the market shaking it off because this is the outcome that was expected going into the weekend from here gets a little dicier. What you know given -- let's say let's put -- -- they sacked just to go forward Russia starts to tighten its grip on energy sources there. Our alternatives are other options for Europeans are they starting to be explored at this point. It's a little late it had in fact it's a lot late. And that's where this hits the road you know it it's a very fragile alliance we have. On this front by -- I mean the United States and the president while he would love to impose sanctions. And the idea logically that would be deployed to do it I'm not sure what the hand is here for the United States that's -- traders are playing -- As a fait accompli that that -- gonna win on this one because the Germans for instance they have -- on our side they oppose the elections they'd rather Russian did not do this. And terms of taking Grammy and an accepting them as part of the Russian Federation but you know what. It's a really expensive move for the Germans to impose the sanctions. In terms alternatives. They might have on the US could help a little bit in terms of raising their -- -- But at the end of the day it's gonna take a serious -- on the European economy which was no great shakes to begin with. Well talking up -- -- international picture looking at Ukraine as a whole the US the European powers that they in -- work work with the international monetary -- reduce Ukraine's debt. Is that a wise move -- considering what we've seen either in Greece or Cyprus. -- That's just not a lot of money if not for a nation anyway that's Jeff Zuckerberg could leave that as a tip that noble if you wanted to. It's not a huge inducement one way or the other three is the problem the -- he -- that didn't help to just throw money at the problem. But that's really the best leverage that the United States in the other western allies have right here. Is -- help -- -- vows to help them with their debt problem. But I tell you what the economy as a master I think that's dead in the brush and the United States are playing Tug -- war with a hornet's nest not a one wants to win. But they don't want to cede control so they're just kind of staking their claims if you will and they hope that you pray and work this out in the little time a little money and hopefully to right the ship there before anyone -- in aggressively. -- exam well a lot of folks just -- -- -- -- see exactly what's going to -- -- take one look at the -- -- let's -- -- -- the Dow is trading up 98 points 161001 has 63 but today's big number 96 point 8%. That is the vote for Crimea to be annexed from the Ukraine Jeff -- from -- -- finest Jeff thank you have a good Monday search. Thank you my friend of course you can get the latest headlines right you're dot com you've been watching the big number content that's.
This transcript has been automatically generated and may not be 100% accurate.