Global Markets: Ukraine conflict reaches three-month mark

By MarketsFarm

WINNIPEG, May 24 – The following is a glance at the news moving markets in Canada and globally.

– As the war in Ukraine reaches the three-month mark, Russian forces were reportedly launching an all-out assault on Ukrainian troops in the eastern Donbas region of the country in an attempt to encircle and trap the soldiers. The Russian invasion has seen more than 6.5 million people displaced from their homes with numerous Ukrainian cities reduced to ruble. Meanwhile, international sanctions against Russia continue to mount.

– The World Economic Forum in Davos, Switzerland is underway this week, with the situation in Ukraine likely to be a major topic as leaders from around the world meet in person for the exclusive mountain summit for the first time since 2020. Climate change and the ongoing pandemic will also be discussed.

– A massive storm hitting parts of Quebec and Ontario over the Victoria Day long weekend resulted in the deaths of at least nine people, with power outages leaving nearly a million customers across the two provinces without electricity. With hundreds of hydro poles downed, efforts are still underway to clean up after the storm with the power still out for hundreds-of-thousands of people.

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