Stocks Down Again As Russia/Ukraine Continue To Weigh On Markets

Plus 5 New Strong Buys for Today Stocks Down Again As Russia/Ukraine Continue To Weigh On Markets [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Down Again As Russia/Ukraine Continue To Weigh On Markets [Stocks Down Again As Russia/Ukraine Continue To Weigh On Markets]Image: Bigstock Stocks closed lower again yesterday as the ongoing Russian invasion of Ukraine weighed on the markets. Reports that Russia could be planning an even larger invasion spooked stocks. In fact, Pentagon Press Secretary, John Kirby, said that the Department of Defense believes Russia is "ready" for a full-scale invasion. In the meantime, the U.S. and its allies continue to levy additional sanctions on Russia. After January's pullback/correction, and subsequent rebound, it looked like we were done with this one. But the Russia/Ukraine situation pulled stocks back down. Currently, from the recent all-time highs to yesterday's close, the Dow is back in correction territory with a decline of -10.3%; the S&P is down -12.3%; while the Nasdaq is down -19.6%. Interestingly, stocks typically do well during times of war. But the current situation is being complicated by high inflation at home, which includes soaring energy prices, and the fact that the Fed is expected to make their first interest rate hike in years with a fair amount of uncertainty whether it will be a quarter point or half point to begin with. We will find out what the Fed does at the conclusion of their 2-day FOMC meeting on March 16th. But there's no telling what Putin might do and when. Nonetheless, aside from potentially higher energy prices, there should not be much of an additional impact of the U.S. economy. And the underlying fundamentals of the economy remain strong. In fact, in the Fed's own words, the economy remains "really strong," the labor market is "rapidly" improving, "consumer demand is very strong," and "incomes are very strong." Sounds pretty strong to me. And once we get past the initial shock of war, the markets look poised to rebound. Because with such a strong economy, coupled with the positive news of falling Omicron cases, and Covid restrictions being lifted all over the country, and even the world, the pent-up economic demand in the U.S. and abroad, is expected to usher in a multiyear boom. So keep your eyes on the big picture. As the saying goes, "buy when everyone is selling." Because it looks like there's a lot more upside to go. Granted, that's easier said than done. But there's a certain group of investors that you should definitely be following as they have an uncanny ability to get into the right stocks at just the right time. 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