**Ukraine Crisis Upends Investing Playbook for 2022**
**Markets from wheat to oil and stocks are recording some of their most extreme swings of the past two decades**
**by Gunjan Banerji, The Wall Street Journal, Feb. 27, 2022**
**Global markets for everything from stocks to oil to wheat are recording some of the most extreme price swings in decades, a sign of investor unease over unpredictable economic and political dynamics.**
**After months of turmoil driven by the prospect of tighter Federal Reserve policy, investors this past week confronted a fresh challenge when Russia invaded Ukraine. The geopolitical crisis threatens to crimp economic growth in Europe at a time when inflation is at a 40-year high and the Fed is poised to raise interest rates for the first time since 2018.**
**The S&P 500 suffered its first correction — a drop of more than 10% from a recent high — in two years. The Nasdaq is down 12% in 2022; the S&P 500 is off 8%. Around 67% of stocks in the Nasdaq and 29% of stocks in the S&P 500 are down at least 20% from their highs. Russian stocks recorded a historic crash last week, dropping by a third. Oil prices crossed $100 for the first time since 2014, and wheat hit the highest level since 2012. Commodities like nickel and aluminum soared as well....** [end quote]
Well, last week’s market was wild and crazy. It’s impossible to predict next week.
The METAR for next week is uncertain. It could turn on a dime.