Also have a think about which countries are at war.
The size and importance of these nations can really shake up global supply chains, resource availability and trade, potentially causing prices of commodities and stocks to swing.
Wars in key areas can make investors uneasy too, leading to more market ups and downs as people get risk-averse.
Finally, is the conflict just a local issue or something that’s affecting the whole world? This can really impact how investors in other countries react as well.