The market may have relaxed a bit too much over the Russia-Ukraine war, Goldman Sachs says

Against the backdrop of the biggest ground war and humanitarian disaster on European soil since World War II, major U.S. stock markets DJIA SPX COMP were on Friday set for their best weekly returns since November 2020.

Meanwhile, after soaring to more than seven year highs at the start of the Ukraine war, U.S. crude oil CL00 and global benchmark Brent BRN00 were facing their worst weekly slump since November and August 2021, respectively, amid hopes for negotiations progress between Russia and its smaller neighbor Ukraine.

Experts are warning of several more weeks or even months of fighting ahead and even the danger that Russian President Vladimir Putin may use tactical nuclear or chemical weapons in frustration at the slowness of his military campaign to oust the government of Ukraine.

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