Russia Test-Fired An Intercontinental Ballistic Missile

Russia just test-fired a intercontinental ballistic missile that hit its target in Kazakhstan, Defense Ministry spokesman Igor Yegorov told state-run news agency RIA.

Stocks immediately dove as the world watches the crisis in Ukraine unfold, although the intersection of events appears to be a coincidence.

Kremlin spokesman Peskov says Russia planned the missile tests well in advance, and that the U.S. knew about it before Russia invaded the Ukrainian peninsula of Crimea.

Russia occupied the strategic Black Sea peninsula last week after pro-EU protesters Kremlin-backed President Viktor Yanukovych. Tensions are high.

#Ukranian base in #Yevpatoria is surrounded by a large group of armed #Russians. Situation is extremely tense.

- Ukraine Reporter (@StateOfUkraine) March 4, 2014

The launch site was about 280 miles east of the Ukrainian border. The missile, a 60-foot-long RS-12M (aka SS-25 Sickle), is designed to carry a nuclear warhead and its range is about 6,000 miles.