Stocks continue to slide as investors are trying to figure out economic implications of Russian aggression against Ukraine. Today, Ukraine declared a state of emergency and began to mobilize its reservists.

Yesterday, President Biden announced an initial round of sanctions and EU, the U.K., Canada, Australia, and Japan also announced their sanctions and restrictions.  These could cause shortages of food and energy.

Russia is among the world’s largest suppliers of oil and natural gas. Both countries are major exporters of wheat, corn, edible oils and metals like aluminum, nickel, and palladium.

We have already seen a surge in prices of crude, natural gas, grains and metals. Russia is also one of the world’s largest exporters of fertilizers. Any supply disruptions would result higher food inflation. Food prices are already at their highest levels in a decade.

ETF areas like gold, other commodities, and agribusiness could benefit from the crisis. The iShares Gold Trust Micro (IAUM Quick QuoteIAUM - Free Report) , the cheapest physically backed gold ETF, is worth a look.

The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC Quick QuotePDBC - Free Report) is the most popular broad based commodity ETF, which invests in futures on 14 heavily traded commodities

The VanEck Agribusiness ETF (MOO Quick QuoteMOO - Free Report) invests in companies that derive more than 50% of their revenues from agribusiness. Deere & Company (DE Quick QuoteDE - Free Report) , Zoetis (ZTS Quick QuoteZTS - Free Report) and  Nutrien (NTR Quick QuoteNTR - Free Report) are its top holdings.

Please watch the short video above to learn more.