What changes have taken place in the stock market behind the Russian-Ukrainian conflict?

On the first day of the conflict between Russia and Ukraine, the prices of energy, agricultural products and commodities changed rapidly, and the prices of safe-haven assets such as gold and bonds warmed up, and the global stock market adjusted accordingly.

First, the price centers of crude oil, agricultural products and some commodities are pushed up by the trend and may remain at a relatively high level in the medium term. In this case, it will boost the global inflation level, especially in Europe and America.

Second, the domestic inflation level in the United States is already at the highest level in history. The Russian-Ukrainian war will continue to push up its inflation, which is likely to make the inflation in the United States continue to exceed expectations, which will make the Fed continue to raise interest rates and shrink its table this year? Hawke? Exceeded expectations. This will have an impact on the high valuation of US stocks and global capital markets.

Third, the symbolic significance of this event may make global investors realize that the old era of globalization in the past 40 years may be difficult to maintain. At the same time, the insecurity among countries is increasing day by day, and the weight of security in the supply chain of countries is getting higher and higher, exceeding the economic efficiency itself.