Four ways the situation at the Russia-Ukraine border could affect Americans’ wallets

CNN– Russian forces are still massing on the Ukrainian border, and the U.S. is warning Russia could choose to attack at any moment. A further Russian invasion there could cost you money here at home.

Here are four ways your wallet might take a hit.

First, you might have to pay even more for gas as Russia is the world’s second largest producer of oil, and prices are already spiking.

Next, global food prices could increase. Russia is the world’s top exporter of wheat, and Ukraine produces both wheat and corn.

You also might have to pay more in interest on your next loan. The federal reserve is already hinting it’ll raise interest rates. Increased inflation would add to its motivation.

Lastly, you might take a hit to your stock portfolio since investors know the world economy is connected.