How Could the Russia-Ukraine Conflict Affect Your Investments?

Russia's invasion of its European neighbor is extending 2022's volatility in the stock and commodity markets.

Tank against Ukraine flag
(Image credit: Getty Images)

Russia's invasion of Ukraine is sending shockwaves through pretty much every asset class across the globe. Risk assets such as stocks are tumbling. Traditional safe havens like Treasury debt and gold are rising. And oil and other key commodities are spiking at a time when U.S. inflation just hit a four-decade high.

But as disastrous and disorienting as the impact of Europe's largest military conflict since World War II might be, the best course of action for most retail investors is to keep calm and carry on, market strategists say.

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Dan Burrows
Senior Investing Writer, Kiplinger.com

Dan Burrows is Kiplinger's senior investing writer, having joined the august publication full time in 2016.

A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. As a senior writer at AOL's DailyFinance, Dan reported market news from the floor of the New York Stock Exchange and hosted a weekly video segment on equities.

Once upon a time – before his days as a financial reporter and assistant financial editor at legendary fashion trade paper Women's Wear Daily – Dan worked for Spy magazine, scribbled away at Time Inc. and contributed to Maxim magazine back when lad mags were a thing. He's also written for Esquire magazine's Dubious Achievements Awards.

In his current role at Kiplinger, Dan writes about equities, fixed income, currencies, commodities, funds, macroeconomics, demographics, real estate, cost of living indexes and more.

Dan holds a bachelor's degree from Oberlin College and a master's degree from Columbia University.

Disclosure: Dan does not trade stocks or other securities. Rather, he dollar-cost averages into cheap funds and index funds and holds them forever in tax-advantaged accounts.