As the era of cheap money has hurtled to an end, lowering liquidity in the markets, trading in the sessions ahead is set to stay volatile.
This snapshot has set the scene for a resilient February, with the bounce back from Omicron expected to continue, but the euphoria of the rebound is likely to be short lived.
Oil, natural gas and wheat prices dramatically dipped yesterday after having raced upwards on multiple daily runs since the invasion began.
The FTSE 100 in London dropped by 2.5% while the Dax in Frankfurt fell by 2.9% and CAC 40 in Paris plummeted 3% in early trading.
Russia has become isolated from Western financial markets and step by step is being left out in the cold, outside the reach of crucial transactional networks.