NVX Chart, page-2634

LT Investors make bad decisions when they are afraid. There is no doubt the situation in Europe is very grim and it is scary to read all the media coverage. There are however several positives that investors tend to over look when they are faced with fear. Here are some macro level positives that are currently playing out in the world:-

a) There has been a significant downgrade in severity and impact of Covid. Which is a scenario that no economist projected 3 months ago.
b) Russia flexing its muscle will have significant impact on EU moving towards energy transition in coming months
c) The west is already in advanced stages of lifting sanctions on Iran - That will make up for some lost capacity from Russia (Not saying it makes a material dent)
d) Equity valuations have significantly improved as compared to 2 months ago.

There is an old saying that invest your money when masses are scared. NVX may give up some further ground from here - but as your said - it will be temporary.