U.S. Treasury's Yellen Tells EU Officials That Failure For U.S. Congress To Act On Ukraine Funding Would Hand A Victory To Russia's Putin; Says 'We Cannot Allow Ukraine To Run Out Of Money Before It Runs Out Of Ammunition'
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Janet Yellen has warned EU officials that a failure by the U.S. Congress to act on Ukraine funding could result in a victory for Russia's President Putin. She emphasized the importance of not allowing Ukraine to run out of money before it runs out of ammunition, highlighting the critical nature of continued financial support for Ukraine.
January 31, 2024 | 4:12 pm
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NEUTRAL IMPACT
Yellen's comments may lead to increased market volatility as investors consider the geopolitical risks and potential implications for U.S. and global markets.
While Yellen's comments do not directly affect the fundamentals of companies within SPY, the geopolitical tension and uncertainty may cause short-term market volatility, affecting the ETF's performance.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The European market ETF VGK may experience heightened sensitivity to Yellen's statements due to the direct involvement of EU officials and the potential impact on European stability and security.
Yellen's statements may have a more pronounced effect on VGK as it pertains to European markets, which are closer to the Ukraine conflict and may face direct consequences of funding decisions.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 60