Usa Russia Ukraine COST UPS Lowe's Usa Russia Ukraine

We face a global economic crisis. And no one knows what to do about it

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Back in February, plenty of investors were betting that the buildup of Russian troops on Ukraine’s border was no more than an elaborate bluff.The Russian and Ukrainian currencies appreciated in value as hedge funds and private equity firms, signalling their faith in some form of peace deal emerging, confidently bought roubles and the Ukrainian hryvnia.Today there is a war going on that has effectively locked up the raw materials and food usually exported by both nations, and no one knows when the conflict will end.It is clear from the collapse in global stock markets and sliding cryptocurrency values that investors are panicked by the uncertainty.

Shares in the US, where the S&P 500 index is down by almost a quarter since January, have suffered their worst start to a year for 60 years.We have seen panics before, notably after the 2008 crash.

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