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9 Mar 2022

Russia Sanctions: Market Volatility Mounts amid Ukraine Crisis

The Index Today

World markets are reeling in the aftermath of Russia’s invasion of Ukraine as sliding stocks and surging commodity costs are poised to exacerbate inflation in the midst of tightening monetary policies.

Movement in the markets has intensified as a result, with safe haven assets like the U.S. dollar and gold soaring while the Nasdaq Composite Index posits a bearish outlook as oil reaches multi-year highs, Reuters reported.

Michael O’Rourke, the Managing Director of Jones Trading, said, “Traders are not used to this kind of volatility in markets. Everyone is trying to figure out what is the next threat and where the next distortion is.” This comes amid investor anticipation of potential additional interest rate hikes by the Federal Reserve to curb rising inflation.

Brent crude has soared above 25% since the beginning of March while major indices including NASDAQ, S&P 500 and Germany’s DAX plunge to bearish zones. In response, investors are flocking to safe haven assets like gold, dollar and Swiss francs as their values hit multi-month peaks.

©Photo: Bloomberg

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