Government bonds and the Japanese yen rallied on Tuesday, while stocks fell, as investors bought safe-haven assets after President Vladimir Putin updated Russia's nuclear doctrine amid escalating tensions with the United States over Ukraine.

Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia. The Dow fell 300 points, or 0.7%; and the S&P 500 and Nasdaq 100 both moved around 0.5% lower. The selling comes after Moscow changed its nuclear doctrine following the Biden administration giving Ukraine permission to use longer-range weapons inside targets in Russia.

U.S. stock index futures pointed to a lower open on Tuesday, as concerns over escalating tensions between Russia and Ukraine dented risk appetite globally, with investors rushing to safe-haven assets.