Russia has turned its military buildup along Ukraine’s border into a full-fledged conflict.

President Vladimir Putin announced an attack on Ukraine early Thursday local time, days after he recognized two breakaway regions of Russia’s neighbor as independent. The long-feared Russian invasion of Ukraine began, as explosions were reported in the capital of Kyiv and other cities around the country.

The U.S. and Europe had scrambled to prevent an attack this week, slapping a series of sanctions on Russian individuals, financial institutions and sovereign debt. U.S. President Joe Biden promised more measures to hit Russia’s economy after the invasion started. Biden spoke to Ukrainian President Volodimyr Zelenskyy late Wednesday Eastern U.S. time.

The attack roiled financial markets, sending U.S. stock futures tumbling and global oil prices spiking.

This is a developing story…