Starting from the 24th of February, Russia decided to attack Ukraine for annexing purposes.
Many innocent soldiers and citizens died, and this process is continuing.
However, this not just attacked people; it struck the stock market, oil, and cryptocurrency.
On the 24th of February, Russia invaded Ukraine directly to Kyiv, the capital of Ukraine.
Why did they attack them? A place called the Crimean peninsula is an area that is part of Ukraine (officially).
The Crimean peninsula can give many advantages to Russia. With the crimean peninsula, Russia is able to expand their trading to many other areas.
Having a Crimean peninsula also leads to military extension, which leads Russians to have the opportunity to attack other areas more easily.
What happened to the economy and the stock market after the invasion of Russia?
Firstly, the major U.S indexes went up again.
Three main US stock indexes, Nasdaq, S&P500, and Dow Jones, decreased for a long time but went back up as the invasion happened.
S&P rose 1.5%, Dow Jones increased by 91 points, and Nasdaq jumped 3.3%, which is significantly high in the stock market.
The price of bitcoin significantly went down since the 16th of February, which was the day when there were tons of news reports about the preparation of the Russian invasion.
Even though the price seemed to go back to the 24th, the price kept slowly descending, and another cause of this is banned cryptocurrency trade in Russia.
The main one that the economy impacted a lot was oil.
Oil is the critical source of fuel, and fuel is the key source for war since war requires oil such as engines and fuels for trucks, jets, ships, and cars.
T Russian oil companies and US oil companies’ prices significantly increased because of fuel usage.
It reported that 7.5% of the oil price in the US on average went up.
Overall, the economy and the stock market worldwide are confused.
Russia suddenly struck down at war, and also the economy is suddenly fluctuating.
The future market is predicted to fluctuate as more battles are going on.
Many people predict it will be calmed if the war stops.
Justin Yonghoo Cho
Grade 9
Korea International School Pangyo