Benzinga - by Surbhi Jain, .
Russia launched an unprecedented aerial attack on Ukraine, firing 122 missiles and deploying numerous drones, resulting in the tragic death of at least 22 civilians.
Ukrainian officials have described it as the most extensive aerial barrage since Russia’s full-scale invasion in February 2022.
The Ukrainian air force claims to have intercepted most of the ballistic and cruise missiles, showcasing the country’s defense capabilities in the face of the relentless assault.
President Volodymyr Zelenskyy highlighted the diverse array of weapons used by Russia, including ballistic and cruise missiles, underlining the severity of the attack.
Notably, this marks a significant escalation compared to previous assaults, with the Ukrainian Air Force reporting that the last major attack involved 96 missiles in November 2022. The severity of the current situation raises concerns about the potential economic impact on global markets.
Ukrainian Air Force spokesman Yurii Ihnat noted that Russia seemingly utilized all available weaponry in this latest assault. As the conflict intensifies, investors are likely to turn their attention to traditional safe-haven assets (i.e., gold and government bonds). They’re also closely monitoring the performance of defense and energy stocks:
- The SPDR Gold Trust ETF (NYSE:GLD)
- The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT)
- The iShares 7-10 Year Treasury Bond ETF (NYSE:IEF)
- The SPDR Bloomberg 1-3 Month T-Bill ETF (NYSE:BIL)
- The iShares U.S. Aerospace & Defense ETF (NYSE:ITA)
- And the Energy Select Sector SPDR ETF (NYSE:XLE)
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