Emerging market debt funds drop as Russia's attack ripples to different corners of financial markets

Traders on the floor of the NYSE, Feb. 24, 2022.
Source: NYSE

Russia's invasion of Ukraine is having a ripple effect on global financial markets.

Many emerging markets fixed-income funds are getting hit hard this week due to their ownership of Russian debt, which has been targeted by the U.S. and Europe's sanctions.

More In Pro Insight

CNBC ProWarner Bros. Discovery, Chevron, and Disney are today's stocks: Pro Market Movers August 5
CNBC ProInflation takes over as the next big focus for markets after July's monster jobs report
CNBC ProStifel raises S&P 500 forecast, recommends growth stocks because inflation to fall 'sharply'