Dow futures rose Monday ahead of an important week as the Russia-Ukraine war continues to escalate and the Federal Reserve could hike rates for the first time since 2018.

Futures for the Dow Jones Industrials jumped 195 points, or 0.6%, to 33,008.

Futures for the S&P 500 gained 10.5 points, or 0.3%, to 4,203

Futures for the NASDAQ Composite Index gave back 42.75 points, or 0.3%, to 13,246.25.

Major averages have all dipped into correction territory as geopolitical risks and inflation fears sent asset prices falling.

The blue-chip Dow is down nearly 11% from its record high, while the S&P 500 has fallen almost 13% from its all-time high. The tech-heavy NASDAQ has borne the brunt of the selloff, falling more than 20% from its record high in November.

Fighting has intensified around Ukraine’s capital, Kyiv, while Russian forces bombard cities across the country, killing civilians who are unable to escape. The financial fallout of stiff Russian sanctions will come into sharper focus in the coming days ahead of a scheduled sovereign bond payment.

Ukraine and Russia resumed peace talks on Monday. A Ukrainian official said the country’s objectives were to secure a ceasefire and an immediate withdrawal of Russian troops, along with other security guarantees.

The Fed is expected to raise its target fed funds rate by a quarter percentage point from zero at the end of its two-day meeting Wednesday.

Investors are also looking to the central bank for its new forecasts for rates, inflation and the economy, given the uncertainty from the escalated geopolitical tensions.

In Asia, the Nikkei 225 index gained 0.6% Monday, while in Hong Kong, the Hang Seng index thundered lower 5%.