(Bloomberg) — European stocks and US futures fell amid geopolitical concerns and a lackluster revenue forecast from Nvidia Corp. that damped appetite for tech shares. Bitcoin closed in on the $100,000 mark.

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The Stoxx 600 index (^STOXX) struggled, while contracts on the S&P 500 (^GSPC) and Asia equities fell after Nvidia Corp. (NVDA) failed to meet lofty expectations. Oil and gold climbed to session highs with fears about an escalation of the Russia-Ukraine war growing after Ukraine reported that Russia fired an intercontinental ballistic missile during an overnight attack.

Treasury yields edged down ahead of the release of US initial jobless claims data and as investors continue to await President-elect Donald Trump’s nominee for the Treasury secretary. An index of dollar strength ticked lower after climbing on Wednesday.

“Trump’s win has brought with it an increase in geopolitical uncertainty and that too is weighing on sentiment,” said Daniel Murray, Zurich-based chief executive officer of EFG Asset Management in Switzerland. “Ukraine now has an incentive to gain as much strategic advantage as possible ahead of Trump’s inauguration.”

Federal Reserve Bank of Boston President Susan Collins said more interest-rate cuts are needed, but policymakers should proceed carefully to avoid moving too quickly or too slowly. Swaps market pricing indicated a less than 50% chance the Fed will cut rates again in December.

Bitcoin’s Surge

Meanwhile, bitcoin set a fresh record, hitting $97,000 for the first time, as Trump’s team holds discussions over whether to create a new White House post dedicated to cryptocurrency policy.

In Asia, shares of India’s Adani Group units tumbled and the conglomerate scrapped a $600 million dollar bond sale. US prosecutors charged Gautam Adani, one of the world’s richest people, with participating in a scheme that involved promising to pay more than $250 million in bribes to Indian government officials to secure solar energy contracts. The company denied the US allegations.

The yen gained as much as 0.6% against the dollar after Bank of Japan Governor Kazuo Ueda said he is closely watching foreign exchange impacts on the economy and inflation.

Key events this week:

• Eurozone consumer confidence, Thursday

• US existing home sales, initial jobless claims, Philadelphia Fed factory index, Thursday

• Eurozone HCOB Manufacturing & Services PMI, Friday

• US University of Michigan consumer sentiment, S&P Global Manufacturing & Services PMI, Friday