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.