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 What's Happening Today Good morning! It's Kristin with your daily morning digest.
Russia's credit rating has now been downgraded to "junk" status by global credit ratings agencies Fitch and Moody's. Much like you and me, countries also receive credit scores, which let lenders and investors know the risk associated with investing in the debt of a particular country.
In this case, a junk rating means that there is a lot of risk in lending or investing in Russian debt because the country might not be able to pay it back. For American investors interested in investing in Russian bonds, this credit rating is very important. Russia's economy has taken a hit from economic sanctions from the U.S. and Europe for the country's invasion of Ukraine. The value of Russia's currency, the ruble, hit a record low this week, losing close to 30% of its value against the U.S. dollar since last week.
Stocks are falling today after the Dow, S&P 500, and Nasdaq rebounded yesterday. Stocks have been on a roller coaster ride since Russia-Ukraine tensions started to increase. Oil prices remain high, with crude hitting $116 a barrel. Higher crude prices mean that you'll likely have to pay more at the gas pump.
The Labor Department released its weekly jobless claims report today, showing that fewer people filed first-time unemployment claims than expected, with 215,000 filers as of Feb. 26. Tomorrow we'll get the employment situation summary from the government, which will highlight the strength (or perhaps weakness) of the labor market last month.
- Kristin
Editors' Picks
Off the Charts The price of gasoline rises along with the price of the crude oil it's made from, and wholesale prices for a gallon of gas spiked in some parts of the U.S. this week because of Russia's invasion of Ukraine.  Number of the Day  2011 - That's the last time U.S. crude oil was as expensive as it was on Wednesday, showing how worried people are about the impact of the Russia-Ukraine war. More From The Balance  Loans can help your business launch or grow, but it isn't always easy to get a loan without good credit. Learn about no-credit-check loan options for your small business.  When one partner earns much more than the other, it can be tough to navigate the homebuying process. Here's how to agree on a plan that feels fair for both of you. /ensuring-she-has-a-clear-view-1184421719-12112ea96f144fcfb773ef56d7c7626a.jpg) Trying to save money by canceling your car insurance can cause financial hardship. Learn more about the consequences and how you can avoid an insurance lapse.
 Season 2 of the "Money Confidential" podcast is back with "Taxes in Ten," a six-episode mini-season covering your top tax questions. Host and nationally recognized money expert, Stefanie O'Connell Rodriguez, is teaming up with The Balance's very own Editor-in-Chief, Kristin Myers, as well as Caleb Silver, Editor-in-Chief of Investopedia, to talk about everything from doing your own taxes to the specific tax considerations of different life stages. You can listen to "Taxes in Ten" now, with new episodes airing every Monday. Listen now!
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Crumbling Credit
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