Ukraine-Russia Conflict Deflates Global Markets
With the threat of war between the Ukraine and Russia escalating, markets and investors reacted as you might expect — with a flight to safety. Investors rushed out of equities and into gold to push the barbarous relic to a four-month high today at $1,350 per ounce, while taking down the Russian stock market by 9 percent after its opening bell. Other major exchanges also felt the pinch of potential war, with the German DAX falling 2.9 percent, Japan’s Nikkei losing 1.3 percent and S&P 500 futures declining 0.8 percent from Friday’s record high. What’s this all mean for you today? Well, if you currently hold stock in Russian-based companies, you may want to consider selling… and moving to gold until this brouhaha blows over.