With the intensifying conflict between Russia and Ukraine, the S & P 500 has entered an adjustment phase and the tech-rich Nasdaq has entered a bear market. However, some analysts say that, looking back on history, market pressures should be short-lived.
The United States and its allies have strongly condemned Russia’s actions to invade Ukraine. Meanwhile, India, which has strengthened its ties with Western nations on security, has not denounced Russia’s actions or upheld Ukraine’s sovereignty, but has continued to speak cautiously and seek to remain neutral.
Russia continues to invade Ukraine. Russian troops launched a full-scale invasion on February 24, approaching Ukraine’s capital Kyiv and the second city of Kharkov, and it seems that some urban warfare is taking place. According to the US Department of Defense, Russian troops have deployed 190,000 troops in areas such as the border with Ukraine. Initially, about half of these were invested, but now it is said that the number of personnel has been increased to two-thirds. There are also reports that the Russian army’s advance speed is slowing due to resistance by the Ukrainian army.
On February 28, Ukraine’s President Zelensky formally signed the application for EU accession after requesting the European Union (EU) to promptly approve Ukraine’s accession.
Experts have warned that Russia will use cryptocurrencies to evade sanctions as governments impose sanctions on Russia, which has invaded Ukraine.