Boeing, Ford, Apple and Exxon announced on Wednesday that the companies would leave the Russian market due to sanctions set on the country.
This week, JPMorgan warned that the Russian government could soon default on its international debt.
On Wednesday, the Chairman of the US Federal Reserve confirmed to the US House of Representatives Financial Services Committee that the Fed would hike interest rates in March.
At 15:00 GMT, the Bank of Canada hiked its Overnight Rate from 0.25% to 0.50%. The rate hike was expected by the markets. The Canadian Dollar reacted to the news with a 20 base point drop and recovery over the span of three minutes.
During Wednesday's trading hours, the US Dollar index surged, as it hit a new high at 97.83 and approached June 2020 high levels.
Hedge funds and asset managers announced this week that they would continue to decrease their asset allocations in Russia, as sanctions were set on the country.
Throughout this week, various container shipping lines announced that they would stop the booking to and from the Russian Federation.
In January, US goods trade deficit increased to 7.10%, as imports increased by 1.70% and exports declined by 1.8%.
The President of Atlanta Federal Reserve Raphael Bostic stated this week that the Fed could increase rates by a half percent on March 15.
This week, Chevron announced that the company would be acquiring the biodiesel producer Renewable Energy Group for a sum of $3.15 billion.
During Tuesday's trading hours, crude oil price benchmarks gained more than 10.00%, as US Light Crude oil reached above $105.00. The surge was fuelled by ongoing conflict in Ukraine and OPEC+ announcing that the cartel would stick to its previous plan, despite recent events.
During the first half hour of Tuesday's US trading hours, the stock price for Alcoa Corporation jumped by more than 11.00%. The surge was attributed to a spike in aluminium prices, which is the main product of the company.
Panasonic announced this week that the company would begin to mass produce new Tesla batteries by the end of March of 2024.
During this week, crude oil price benchmarks continued to surge, as pressure on Russian exports increased.
On Monday, South Korea announced that it would ban strategic exports to Russia and join SWIFT sanctions against the country.
The European Central Bank announced this week that the Russian Sberbank subsidiaries in Europe are most likely going to fail.
On Monday, the Bank of Russia hiked interest rates up to 20.00%, as the bank tries to combat the currency fallout occurring due to the ongoing conflict in Ukraine.
On Friday, a US judge ruled that Johnson & Johnson could keep its subsidiary in bankruptcy, which would allow the company to avoid 38,000 lawsuits over baby powder and talc products.
The US Federal Reserve announced on Friday that wages could continue to grow unless a lack of workers subsides. A rise of wages would most likely fuel inflation.
On Friday, various automakers revealed that they would shut down or move away their Russian based production.
Catherine Mann, a Policymaker at the Bank of England revealed that she had voted for a 0.50% increase of interest rates due to expectations of inflation to remain high.
The Chief Economist of the European Central Bank stated last week that the conflict in Ukraine might reduce the Euro Zone's GDP by 0.3%-0.4%.
The National Bank of Canada announced that it had beat its quarterly earnings forecasts. The bank's stock surged on the news.
On Friday, European Union officials announced that the union would prepare a third round of economic sanctions on Russia.