After the overnight invasion of the Ukraine, global markets plunged.
The Dow Jones Industrial dropped 750 points when markets opened. We spoke with local financial advisor Howie Pentony who said the sudden overnight news may have caught the market off guard.
“Right now the S&P is down 11 percent year-to-date. So the market was kind of pricing this in. I don’t think many people doubted that Putin was going to go forward with this, so it didn’t surprise many people. But it surprised the markets somewhat,” Pentony said.
Pentony also says that major global events usually do have a dramatic impact on markets.
“Anytime there is global unrest, you see stuff like this. And it’s not like it doesn’t effect us, because it could. If it gets worse it really could effect us,” Pentony said. “The markets this time at least felt like we could have some issues.”
This has also had a dramatic impact on oil costs, as the price per barrel has risen over $100.
