Russia’s invasion of Ukraine sparked a more than $70 billion wipeout on the local sharemarket and raised fears of a spike in energy prices | clancyyeates CharlotteGriev1
Market experts are warning retail investors to brace for more volatility after Russia’s invasion of Ukraine sparked a more than $70 billion wipeout on the local sharemarket and raised fears of a spike in energy prices.
“We’ve just gone through reporting season, earnings have been better than expected but it’s fear and emotion rather than financials and earnings that are driving what’s going on today,” he said. “The stock market is full of human emotions.” Mr Bassanese said higher energy prices would put central banks, already dealing with rising inflation from historic low interest rates, in a bind. “The bottom line is central banks can’t turn around and slash interest rates if there is a negative shock,” he says. “If oil prices go up, do they worry about inflation or growth?”
Daniel Moore, portfolio manager at Investors Mutual, said markets were reacting to the initial shock of Russia’s aggression, and the likelihood of more sanctions being imposed.
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