The Ukraine crisis is turbocharging a dash for haven investments around the globe.
The Russian invasion and the ensuing jump in commodities prices have sent investors barreling into gold and government bonds and scooping up bets that will pay out if they keep rising.
The turbulence has unleashed a frenzy of trading tied to one of the biggest exchange-traded funds tracking gold, while investors have also poured money into government bonds, stemming a flood of withdrawals from earlier in the year. The WSJ Dollar Index, which measures the greenback against a basket of 16 other currencies, closed Monday at its highest level since June 2020. The dollar is seen as a haven because of its status as the world’s reserve currency.
Within the stock market, many investors are turning to shares of utilities and other defensive companies. Shares of utilities…
