Russia’s invasion of Ukraine has far-reaching consequences for the world’s security and economy. Sanctions on Putin imposed by the US yesterday will undoubtedly raise gas prices and prices on other products in the US and in Europe, where Germany has just halted the construction of the Nord Stream 2 pipeline.
The Biden administration could have prevented this disaster if it did not kowtow to Russia within months of Biden assuming the Presidency. Now, US stock markets are nose-diving due to Biden’s failures due to the instability caused by the Russia-Ukraine conflict. Market Watch Reports–
Russian social media channels spread this video of tanks in Donetsk. God, pls don’t allow this war again… Sanctions NOW! #SanctionRussiaNow #StandWithUkraine pic.twitter.com/3vklvi4ati
— Lisa Yasko (@LisaYasko) February 21, 2022
“The S&P 500 on Tuesday fell into a correction for the first time in two years, joining the Nasdaq Composite, as Russia sent troops into pro-Russian regions in Ukraine.
The S&P 500 index SPX, -0.16% ended down 1% at 4,304.76, below the correction level at 4,316.91, which would represent a 10% drop from its Jan. 3 record close. A correction is commonly defined by market technicians as a fall of at least 10% (but not greater than 20%) from a recent peak.
The last time the S&P 500 entered a correction was Feb. 27, 2020, when the market was being whipsawed by fears about the outbreak of the COVID pandemic.
This time around, investors were wrestling with escalating tensions between Moscow and Kyiv, which could devolve into a full-blown war. Wall Street also was wrangling with a surge in inflation and a Federal Reserve that is bent on hiking interest rates to combat growing pricing pressures, which, incidentally, could be exacerbated by Ukraine-Russia tensions.”
Biden and his allies in the media have asked us to sacrifice so that he can save face and impose sanctions on Russia after failing to prevent the war from breaking out. We shouldn’t have to sacrifice because of Biden’s weakness.
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