When I woke up this morning, the S&P 500 futures were down 100 and the Nasdaq was down almost 500 points.
It was an ugly start to the day, but the situation has improved considerably since the open. The S&P 500 is down 0.8% as Russia invades Ukraine.
The news sent silver and gold higher on the news, while oil hit $100 a barrel this morning.
We thought oil would hit $100 a barrel, but this is not exactly the ideal scenario for it to happen.
While the Russia-Ukraine situation was already a headwind, this latest development only adds more pressure to an already volatile situation — both geopolitically and with regards to the stock market.
The U.S. equity market is now contending with rates hikes from the Fed, soaring inflation, a bear market in many growth and tech stocks and now these developments in Eastern Europe.
