Geopolitical shocks and market memory: evidence from crypto and energy assets during the Russo-Ukrainian war

The study reveals that during the Russo-Ukrainian war, both energy stocks and cryptocurrencies exhibited unusual market behaviors that challenged the notion of informational efficiency. The findings suggest that geopolitical shocks can significantly disrupt market dynamics, leading to unexpected price movements. This matters because it highlights the vulnerability of financial markets to external geopolitical events, which could influence future market regulations and investment strategies. Understanding these dynamics is crucial for investors navigating the complexities of global conflicts.