Trump-Zelenskyy Talks Stall as Europe Boosts Ukraine Support: Markets React and Tensions Rise
Staff Editor Trump-Zelenskyy Meeting Ends Without Agreement, European Leaders Step Up Support
A high-stakes meeting between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the White House concluded without any concrete agreements on Monday. The leaders had convened to discuss potential cease-fire options and a mineral rights deal, but the talks failed to yield significant progress.
In the wake of the unsuccessful meeting, President Zelenskyy has turned his attention to European allies for support. European Commission President Ursula von der Leyen responded swiftly, announcing plans to increase defense spending for Ukraine.
The financial markets reacted promptly to the news. The Russian ruble saw a decline of up to 2% against the U.S. dollar, trading at 89.60 on Monday. Russia’s stock market also experienced a 0.5% dip, following a recent surge of 33% since late December.
European markets felt the impact as well. Gas futures rose by approximately 4% due to anticipated supply constraints. However, European defense stocks saw significant gains, with Rheinmetall’s shares climbing 11% and BAE Systems’ shares increasing by 10%.
The crypto-based betting site Polymarket reflected shifting sentiments regarding the conflict’s resolution. The probability of the war ending within the first 90 days of Trump’s presidency dropped from 30% to 20%, while the likelihood of a cease-fire by 2025 decreased from 74% to 63%.
As diplomatic efforts continue, the international community watches closely for any signs of progress in resolving the ongoing conflict.
