U.S. Market Exposure to Russo-Ukrainian Conflict

The Russian invasion of Ukraine, which is the largest conventional military attack in Europe since World War II, has caused a significant impact here at home in the United States, specifically in the financial market. While the Russian economy is in freefall due to sanctions from the West, U.S. markets also have experienced some stressors and exposure to risk as this conflict evolves.

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Fed’s Inflation Policy Complicated by Invasion

With inflation steadily increasing due to the numerous issues dealt with in the last two years, investors and consumers show concern as prices continue to rise. Many Fed officials have discussed a strict, aggressive approach to battle these rising costs. But now the long-awaited interest rate hike from the Federal Reserve faces a challenge. The Russian invasion of Ukraine.

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Mozambique Town of 75,000 Overrun by Militants-Part of Larger Crisis

In Mozambique, the Province of Cabo Delgado is experiencing a growing crisis caused by a terrorist insurgency. In late March of this year the coastal town of Palma, close to the border with Tanzania, and home to about 75,000 was overrun by insurgents resulting in the death of potentially hundreds and the displacement of roughly 35,000 people fleeing the besieged town.

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Elon Musk Announces That People Can Now Buy A Tesla with Bitcoin

Last Tuesday, Tesla CEO Elon Musk announced that it is now possible to purchase Tesla vehicles with Bitcoin in the U.S. The self-proclaimed “Technoking” revealed this news through Twitter and tweeted, “You can now buy a Tesla with Bitcoin.” The payment procedures have also been updated on the support page on Tesla’s website with further information on the transaction.

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Google Plans to Spend $7 Billion on New Offices Across the Country

On Thursday, March 18th, Google announced that they plan to spend $7 billion on new offices and data centers across the country, creating 10,000 new jobs in the process, according to Fox Business. $250 million will be invested in New York City alone and an additional $1 billion in Google’s home state of California.

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IRS Extends 2020 Filing Season to May 17 Following COVID-Related Tax Law Changes

Despite usually opening the tax season in late January, the Internal Revenue Service (IRS) delayed the start of the 2020 tax season to February 12, announcing that they would start accepting and processing tax returns then. The deadline for individuals to file their taxes remained on April 15 until a recent announcement from the IRS that the agency is postponing the filing deadline, giving taxpayers an additional month to file their returns. As of now, income tax and payments will be due on May 17. While this new change applies to individual taxpayers and families, including people paying self-employment tax, this relief does have an exception—it will not apply to the estimated tax payments that many small business owners owe for the first quarter of 2021.

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