The market is facing an escalating and worrying Russia-Ukraine conflict. On a recent weekday, the world was shocked by a series of attacks. To date it has hit hundreds of military targets in Ukraine overnight, thus destroying part of an area in the western city of Lviv and causing the deaths of 7 individuals.
Russia's defense ministry in a statement said yesterday's attack had destroyed 16 Ukrainian military facilities in Kharkiv, Zaporizhzhia, Donetsk and Dnipropetrovsk regions as well as in the port of Mykolayiv, in the south and east of the country.
The Russian army has launched attacks on 108 areas that are the focus of the Ukrainian army. The situation worsened when Russian troops reportedly captured the port city of Mariupol after a fierce battle. Ukrainian President Volodymyr Zelensky noted that the situation in Mariupol is very alarming at this point.
Russia has so far denied that it targeted civilians and denied Ukraine's blasphemy on the matter. Ukraine states the special military operation is aimed at destroying Ukraine.
Foreign countries especially European countries and Ukraine have put pressure after pressure on Russia and accused Russian President Vladimir Putin of committing aggression.
The market is now the main focus on the development of the Russian-Ukrainian conflict. Markets are taking a more cautious stance by shifting their investments to safe havens. Risky assets and currencies such as Bitcoin among others have shown a significant decline.
