Financial markets reacted immediately to the escalting violence in Ukraine that claimed at least 26 lives on Feb. 18-19 and injured hundreds of people. The political troubles bled into the economic ones, renewing talk about a possible government default on debts unless a substantial foreign bailout is forthcoming.

Even the next $2 billion purchase of Ukraine’s bonds by Russia, coming on top of a $3 billion purchase in December, is not bringing much optimism.