From around the world Here's Dan schwarzman Thanks Brian A stunner in England is Tottenham is knocked out of the FA Cup in a 5th round one mil lost to championship side Middlesbrough as Josh coburn scores in the 107th minute Elsewhere Manchester City beats peterborough united two nil on Crystal Palace gets past Stoke City two to one Meanwhile Inter Milan and A.C. Milan played to a scoreless draw in the first leg of a Copa Talia semifinal match A report out of Spain says that Bayern Munich star Robert Lewandowski would consider a move to Athletico Madrid as a Poland international is looking for a new challenge after scoring 333 goals in 362 matches since moving to the Bundesliga giants in 2014 The 33 year old's contract ends in 2023 One day after being kicked out of international soccer and hockey tournaments Russia will be excluded from competing in international ice skating events Russia's ally Belarus is also being banned by the international skating union The decision means that the Olympic gold and silver medalists as well as controversial 15 year old skater Camilla Vallejo will be barred from competing in this month's world figure skating championships Due to the Major League Baseball Players Association rejecting the league's final proposal before the 5 p.m. deadline to come to an agreement without missing any regular season games commissioner rob Manfred has announced that the first two series of the regular season have now been canceled Both sides will have to decide their next course of action after 9 straight days in negotiations failed to reach a compromise on key issues I'm Dan schwarzman that your Bloomberg world sports op day Markets headlines and breaking news 24 hours a day At Bloomberg dot com the Bloomberg business app and that Bloomberg quick tape This is a Bloomberg business flash So we know well the war in Ukraine has created a big rally in the crude oil market In other words a big spike today in New York trading with WTI jumping 8% right now we are higher by another 3% with the active contract trading above a $106 a barrel in the electronic session Earlier we had to the U.S. and other major economies agreeing to coordinate releases from their strategic reserves but this is done little in the way of tamping down prices remember tomorrow that is Wednesday we do have the OPEC plus meeting Basically the delegates are saying they're going to stick with the plan of a gradual a gradual increase in oil production So the concern about rising oil is feeding into the inflation narrative and then how the fed may respond tomorrow we'll hear from fed chair Jay Powell before the House banking committee that fed meeting by the way is in two weeks and the swaps market is pricing in about a 25 basis point hike There's also the issue of whether higher oil will dampen economic growth one of the reasons that we're seeing weakness in equities and I guess you could argue that Europe represents the bigger risk on that front We had the European markets on the equity side dropping about 4% today Haven buying in US Treasury sent the yield on the ten year down by nearly ten basis points We were last quoted in New York at one 72 on the shorter end of the yield curve the two year dropping 9 basis points to one 34 the equity market was negative with the exception of the energy complex we had the S&P down nearly 1.6% NASDAQ comp also weaker by 1.6% and the Dow today off about 1.8% As we get set for trading in South Korea at the top of the hour industrial production in South Korea for the month of January was up 4.3% now that's a year over year reading but the estimate was looking for something in the neighborhood of 6.4% So much much weaker on that front The dollar firm after a rally in New York we've got a stronger yen as well at one 1487 in Sydney ASX 200 down a half of 1% More on markets in 15 minutes Check global headlines next at Baxter's in the San Francisco newsroom ready All right thank you Doug got Russia's changing tactics moving into a more brutal form of war in Ukraine The UN is saying moving from a lightning strikes to more widespread universal attacks UN.