A certified financial planner explains the impact of the Russian-Ukrainian conflict on the stock market
NEW HAVEN, Conn. (WTNH) – As the crisis in Ukraine develops, many people are watching the stock markets and trying to decide what action to take with their money.
Certified Financial Planner Derek Mazzarella of Gateway Financial Partners shares a stock market update and suggestions to keep in mind.
Stocks swung sharply on uncertainty over the scale of the Russian invasion that will drive up inflation, especially oil and natural gas prices, and dampen the global economy.
These big swings are likely to continue in the hours and weeks to come, with so much uncertainty not only about Ukraine but also about interest rates.
Announcing sanctions against Russia on Thursday that he called tough, President Joe Biden said he “will do everything in my power to limit the pain the American people are feeling at the gas pump. petrol”. This relieved the fact that the sanctions were not as severe as they could have been, and the drop in oil prices helped to push up stocks.
“We are not going to do anything that unintentionally disrupts the flow of energy, as the global economic recovery is still underway,” National Economic Council Deputy Director Daleep Singh said Thursday.
Watch the video above for Laura Hutchinson’s full interview with Mazzarella.