Global stock markets are on the backfoot in Europe as news of intensified fighting in Ukraine continues to hit the screens. Get your market update from nickcawley1 here:
Global stock markets are on the backfoot in Europe as news of intensified fighting in Ukraine continues to hit the screens. The Southern port city of Kherson is now said to be under the control of Russian forces, while there have also been reports that the 2largest city in Ukraine, Kharkiv, is under constant attack. Meanwhile, the 40-mile convoy of Russian vehicles and forces are slowly moving towards Kyiv despite reports of heavy resistance and fuel shortages.
The geopolitical crisis remains the main driver of risk at the moment and will continue to do so until a peace agreement is signed, but further economic headwinds are being felt by multi-year highprices that are likely to weigh on demand. In addition, global central banks are beginning to, or have stated that they will, raise interest rates and rein in the excessive, pandemic liquidity that they have pumped into the market over the last two years.
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