Ark Invest’s Cathie Wood said the surge in oil due to the Russia-Ukraine conflict will drive a switch to tech like electric cars.The war will result in “a lot of demand destruction and substitution into innovation,” she told CNBC on Sunday Wood still expects Ark to see spectacular returns in the next five years, thanks to growth in new technologies.Get the inside scoop on what traders are talking about — delivered daily to your inbox.Loading Something is loading..
U.S. crude oil briefly tops $130 a barrel, a 13-year-high
Tanaya Macheel is a cryptocurrency and financial technology reporter for CNBC.”},{“@context”:”http://schema.org/”,”@type”:”Person”,”name”:”Samantha Sabin”,”image”:null,”jobTitle”:null,”description”:”Special to CNBC.com.”},{“@context”:”https://twitter.com/pattidomm”]}],”publisher”:{“@type”:”Organization”,”name”:”NBC News”,”logo”:{“@type”:”ImageObject.
