Dopad geopolitických rizik způsobených válkou Ruska a Ukrajiny na americké akciové indexy

This bachelor’s thesis analyses the impact of geopolitical risks and economic uncertainty arising from the Russia-Ukraine war on the U.S. stock market in the period 2022–2025. The aim of the thesis is to assess how these factors are reflected in the development of the main stock index, the S&P 500, as well as selected sector indexes, specifically Aerospace & Defence, Financials, Health Care, and Information Technology. The thesis is based on a quantitative and descriptive approach using daily and weekly data and the Geopolitical Risk Index (GPR), the Economic Policy Uncertainty Index (EPU), and the Volatility Index (VIX) indicators. The relationship between uncertainty indicators and stock index returns is examined through correlation analysis and sectoral comparison. The results show that the negative effects of geopolitical risks are most pronounced in the initial phase of the conflict and gradually weaken over time, while the market and individual sectors react differently. The Defence sector remains more resilient throughout the observed period, whereas the Financials, Health Care, and Technology sectors are more sensitive to uncertainty related to the war.