Russian invasion of Ukraine sends stock market on roller coast ride, likely to affect energy prices

ByJason Knowles and Ann Pistone WLS logo
Thursday, February 24, 2022
Russia, Ukraine send stock market on roller coaster ride
Russia invading Ukraine sent the stock market on a roller coaster ride, but financial experts say don't make rash investment decisions.

CHICAGO (WLS) -- The Russian invasion on Ukraine sent the markets on a roller coaster ride, causing confusion and uncertainty for investors.

You may see instability and uncertainty right now with your 401K and the stock market, but experts say you shouldn't make any rash decisions.

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"I think people should sit tight and see how the Russian invasion and now the attacks on Ukraine unfold," said Garret Boorojian, managing partner and CDO at WaveCapital Partners, LLC . "Take time to reevaluate your portfolio. I think just sit tight. Hold still see what stocks are trending upward. See which ones are trending downward. See how the rest of the weeks unfold."

While the markets are currently on a rough ride, investments in things like defense and cybersecurity may likely go up. Experts said you could make money on those, but always check with your financial advisor before changing anything.

READ MORE: Russia-Ukraine conflict raises big risks for global economy

Financial experts also said to keep an eye out for the Federal Reserve to raise interest rates in March.

This move is expected to help lower inflation on overall costs of products; however, it may not help much with natural gas and energy costs.

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"Consumers will primarily be paying more in gasoline but it remains to be seen how this affects, you know, food or clothing, apparel, or other types of goods and services. But really, it's been energy. It's been the airline industry, people are probably not wanting to travel because jet fuel prices are going up," said Boorojian. "You know, how is the travel industry going to be affected? Are Americans going to go to Europe for business or personal travel?"

If you're planning on travel domestically and you know your plans won't change, you may want to buy tickets as soon as possible.