Putin Approves Updated Nuclear Doctrine

European shares fell on Tuesday amid concerns following Russian President Vladimir Putin's approval of an updated nuclear doctrine that allows for a nuclear response to conventional attacks. This has led to a significant shift towards safe-haven assets, with investors flocking to government bonds, gold, and the Japanese yen. German government bond yields dropped by as much as 8 basis points to 2.292%, while gold prices surged to around $2,626 per ounce. The decline in the U.S. dollar against the yen was notable, falling by 0.9% to 153.28. Despite initial drops, European aerospace and defense stocks managed to recover slightly, closing with only a 0.2% loss. The market's reaction underscores growing anxiety over geopolitical tensions and their potential economic implications.