Mohamed A. El-Erian , Columnist

Global Markets and Economy Can’t Escape War in Ukraine

The West’s response to Russia’s invasion will most likely have significant consequences for the financial system and investors.

February 27, 2022 at 2:00 PM UTC

By Mohamed A. El-Erian

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

The West’s response to Russia’s attack will have serious ramifications.
Photographer: Jason Redmond/AFP/Getty Images

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“If your life still feels normal, ask if you are doing the right things… .”

Scotland’s First Minister Nicola Sturgeon made this observation about fighting Covid-19, but it also provides a useful lens to assess economic and market reactions to Russia’s invasion of Ukraine and what may come next.