Markets kept an eye on eastern Europe as Moscow imposed a ban on imports of many Western foods on Thursday, retaliating against sanctions imposed for its support of rebels in eastern Ukraine and the annexation of Crimea. Russia will ban various imports from the United States, the European Union, Australia, Canada and Norway in a measure that isolates its consumers from world trade to a degree unseen since Soviet days.
The sanctions are seen as possibly hurting European economies more than the United States due to closer ties between Russia and Europe. Such a scenario could favor US equities and other assets as foreign cash looking for yield may head towards the world's largest economy. The full extent of the impact, however, is yet to be known.
The sanctions are seen as possibly hurting European economies more than the United States due to closer ties between Russia and Europe. Such a scenario could favor US equities and other assets as foreign cash looking for yield may head towards the world's largest economy. The full extent of the impact, however, is yet to be known.
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