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Ukraine war

Ukraine conflict risks market fallout worse than Cuban missile crisis

Central banks fight inflation stoked by tensions, but overkill would prompt recession

Men hold weapons during a basic combat training for civilians in Mariupol, eastern Ukraine.   © AP

TOKYO -- As tensions surrounding the Ukraine situation mount, Russia finds itself once again in a familiar, if coincidental, pattern of playing a crucial role in years that end in "2" throughout the annals of history.

In 1812, Napoleon embarked on his doomed expedition to Russia. In 1922, Russians formed the Soviet Union. And in 1962, the U.S. and Moscow faced off during the Cuban missile crisis.

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