A Morgan Stanley investing chief says the Russia/Ukraine conflict is ‘a big deal’ for markets and anyone trying to trade it on a short-term basis will likely get it wrong

• Morgan Stanley Wealth Management CIO Lisa Shalett said the Russia-Ukraine conflict will keep markets in risk-off mode for weeks.

• She said a rapidly-changing situation often results in a flight out of risk assets, but this isn’t a good strategy in the longer run.

• Russia invaded Ukraine on Thursday in the region’s largest military operation since World War 2.

Financial markets have been roiled this week after…