WARSAW, March 3 (Reuters) - Polish blue-chip index WIG20 was down by 3.6 percent on Monday morning because the threat of military conflict in Ukraine negatively affected the region’s markets, with the zloty currency also down.
“We can see the Ukraine effect. The market is over reacting now, but if the conflict escalates, further falls are possible,” said Lukasz Bugaj, an analyst with DM BOS brokerage.
By 8.08 GMT the zloty was down by almost 0.5 percent against the euro in comparison with the Friday close. Dealers said that was also due to Ukraine.