US President Trump says Russian President Putin, alongside others, will have to make concessions to end the war in Ukraine

• Putin and Zelensky want to make a deal.
• Ukraine war doesn't affect the US, it affects Europe.

This headline signals a potential shift in the geopolitical landscape regarding the Ukraine conflict, emphasizing that concessions may be necessary from Russia for peace. Given that the war significantly impacts Europe but less so the US, we might see volatility in European equities and currencies depending on market sentiment towards potential negotiations. Additionally, this could influence commodity prices, particularly energy and metals, as the likelihood of reduced conflict pressure emerges.