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Sarcasm in Ukraine Roils Markets Swinging Between War, Peace

  • Stocks slide, oil rises after Ukrainian president’s comments
  • Markets on edge over geopolitical tensions in Europe
Bloomberg business news
WATCH: Mike Bell of JPMorgan Asset Management says it makes sense to dial back risk given the increasing geopolitical tensions about the buildup of Russian forces on Ukraine’s border. Source: Bloomberg
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Subtlety has never been Wall Street’s strong suit, and when a dose of sarcasm crept into the high-stakes discourse around tensions between Russia and Ukraine, it briefly proved more than traders could process.

Confusion reigned Monday afternoon, when media accounts of what appears to have been a tongue-in-cheek quip by Ukrainian leader Volodymyr Zelenskiy deriding assumptions about Russia’s military intent ignited a brief bout of ill-advised selling.