Feb 24, 2022
(2/24/22) Markets will open sharply lower following the
overnight invasion of Ukraine by Russia. In anticipation, markets
closed lower Wednesday (2/23), right on support set back in October
2021. How much more is there to go? We look to markets' previous
responses for clues. Russia invaded Ukraine over a disagreement
about Crimea in 2014. Markets then responded with the understanding
there would be a resolution to the conflict in short order. That
was then, this is now--and it's unknown how long today's conflict
might stretch out. Markets in 2014 were set up similarly, with
market peaks set in early January, to the tune of 3 standard
deviations below the 50-DMA--exactly where we'll be this morning at
the opening bell. The key today is to not overreact to what you're
seeing on TV. Increased geopolitical risk will also cause the Fed
to rethink its monetary strategy, pausing rate hikes and balance
sheet reduction. That could create additional support for
stocks.
Presented by RIA Advisors Chief Investment Strategist, Lance
Roberts
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