The S&P500 is in a correction for the first time in the last two years. Oil hit its highest price since 2014. How much worse could this get? Is this just the beginning? Quick Background Up until 1991, much of Europe was controlled by the communist-run Soviet Union, and at the time of its downfall, Ukraine had the 3rd largest atomic arsenal in the world. As a result, the United States and Russia worked with Ukraine to disarm and remove the nuclear missiles in exchange for the security that would protect them from a potential Russian attack. However, in 2013 the Ukrainian president rejected a deal that would integrate their economy with the European Union under the suspected pressure of signing an agreement with Russia. However, that proved very unpopular for Ukrainian citizens who protested throughout the region. Russia saw this and became concerned about the possibility of their neighbor Ukraine adopting new western alliances. Russian troops took over the neighboring peninsula, sparking tension that they had violated their original agreement not to attack.
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