After several weeks of escalating tensions, on February 21, 2022 Russia announced that it would recognize two pro-Moscow areas of Ukraine – Donetsk and Lukansk – as independent states. Russia then quickly moved troops into these two areas and last night took military action against the Ukraine. Over the last 24 hours we have spoken to some of our clients and understandably they are concerned with how markets could react to this military escalation. This ARTICLE is from RBC Global Asset Management and outlines the stock market has reacted to previous acts of war.