Russia’s invasion of Ukraine has raised concerns about cyberattacks to a fever pitch. In the United States, banks and major corporations are reinforcing up their cybersecurity protocols in the anticipation of a greater number of hacking attempts.
The cybersecurity sector showed signs of life on Feb. 24, as investors lifted the share prices of pivotal stocks in response to the full-scale invasion of Ukraine.
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The conflict in Ukraine has evolved from grave tension to war.
On Thursday, President Joe Biden further condemned Russia’s actions in Ukraine, saying the White House is imposing new sanctions on four more major Russian banks, "freezing every asset they have in America."
Russian President Vladimir Putin’s decision to send almost 200,000 troops into Ukraine as part of an invasion has sent the stock market into uncertain territory.
Oil demand and prices collapsed in the spring of 2020 to as low as $9 per barrel as COVID-19 prompted governments to shut down commerce and require millions of people to stay at home.
The fears of rising interest rates, and inflation that have been piquing investors are now starkly overshadowed by a full-blown Russian invasion of Ukraine.