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Market has yet to deliver verdict on Russia

In the U.S. there may be a fairly large appetite for clamping down on Russian aggression in Ukraine and Crimea. In Germany, though, the clamor is decidedly more subdued.

Patti Domm, CNBC's executive news editor, found in a trip to Germany that there's little appetite for additional sanctions against Russia, despite global outrage.

So how will the conflicting dynamics play out in the markets?

Though there was some near-term volatility, overall the market has taken a mostly benign view of the tensions, according to Jeff Cox., finance editor at CNBC.com.

The two hash out the implications in the video.

—By CNBC's Jeff Cox. Follow him on Twitter @JeffCoxCNBCcom.

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