Big recalibration that war may be here for long run. People game planning worst-case scenario and selling stocks indiscriminately, especially big large cap stocks.

Asia gets more than 70% of LNG and oil from Middle East. Inflation will become big issue for Asia economies, meaning central bankers have hands tied.

China now considered relative haven. Can get oil from Russia, Venezuela, Iran. Chinese shares were sold off more already, so less to sell.