The conflict in Russia and Ukraine is upsetting markets worldwide as analysts worry about its impact on key sectors. Ukraine is considered the 'bread basket' of Europe and a prolonged conflict can upset supplies of wheat, soybeans, barley, and other foodstuff.

Russia is also a major exporter of petroleum products and has a robust network of customers, and the Brent crude oil benchmark reflected market anxieties regarding disruption of supply chains and its consequent ramifications.

In terms of precious metals, Russia and Ukraine are important locations for the aerospace and chip industries.