From WSJopinion: Western economies and financial markets are broad and deep enough to cope with the new state of the world, but the picture is different in Russia.
Review & Outlook: The war in Ukraine may be intensifying, but Vladimir Putin’s invasion isn’t going to plan as Ukrainians show a too complacent West what it means to fight for freedom. Images: AFP via Getty Images Composite: Mark KellyMonday was a tense day for global markets as investors passed judgment on the sanctions many governments imposed on Russia over the weekend. The verdict so far: Western economies are resilient enough to absorb the pain. The Russian economy not so much.
In the West, the theme is “manageable pain.” European stock markets fell modestly on the day, by less than 1% in London and Frankfurt, and 1.4% in Paris. This was mirrored by declines of 0.24% for the S&P 500 index and 0.49% for the Dow Jones Industrial Average.
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