A year after Russia invaded Ukraine and set off the bloodiest conflict in Europe since World War II, global financial markets seem to no longer carry on the lasting shocks on a daily basis, but the full consequences and implications are yet to come, said a strategist at Deutsche Bank. U.S. stocks tumbled on Feb. 24, 2022, with the Dow Jones Industrial Average
DJIA,
-1.02%
opening down more than 700 points, or 2.2%, while the large-cap index S&P 500
SPX,
-1.05%
slumped 1.8%, hours after Russian President Vladimir Putin announced the military action. Meanwhile, oil prices rallied with the U.S. benchmark West Texas Intermediate crude
CL00,
+1.41%
CL.1,
+1.41%
CLJ23,
+1.41%
rising to $100 a barrel on the New York Mercantile Exchange for the first time since 2014.
See: What Russia’s invasion of Ukraine means for markets a year later As of Friday, the Dow industrials were slightly lower from a year ago after tumbling for most of 2022 and bouncing off October lows in early 2023. The S&P 500 slumped 7.4% in the past 12 months, while the Nasdaq dropped 15.5%, according to Dow Jones Market Data. Meanwhile, bonds wrapped up their worst year on record in 2022. Instead of holding up as stocks tumble, almost every type of bond — from the U.S. and European government bonds to top-rated corporate bonds — posted double-digit losses in the past year. A steep U.S. Treasury selloff sent yields soaring, with the yield on the 2-year note
TMUBMUSD02Y,
4.803%
rising 3.67 percentage points for the year, while the 10-year yield
TMUBMUSD10Y,
3.953%
jumped 2.33 percentage points, the largest on record based on data going back to 1977, according to Dow …