Financial Fallout: The Ukraine Invasion in Six Charts
- Date: 15-Mar-2022
- Source: Morning Star
- Sector:Financial Markets
- Country:Gulf
Financial Fallout: The Ukraine Invasion in Six Charts
Since the war began, Morningstar’s US Market Index is down 1.4% and the Morningstar Europe Index dropped 7.7%. The drop in Europe has wiped out nearly 60% of the gains earned last year. Volatility continues as the market correction extends into March. Shares in energy companies are up as travel and bank stocks have declined. And investors have had to temper expectations for interest rate hikes, even as inflation continues.
Oil prices are on a tear, closing at $108.70 per barrel on March 9. Prices have risen as non-energy sanctions have made it more difficult for Western customers to purchase oil from Russia oil, says David Meats, Morningstar director of equity research for energy and utilities. The cost for other commodities exported by Russia and Ukraine are up as well.
For the year, the US market index is down 11%, and the European index has fallen about 14%, dropping to its lowest levels since March 2021.
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