New Delhi, June 4 -- 'Operation Spider's Web' has been the top trending topic around the world over the last two days.

.and for good reason.

This is the name given to a military operation by Ukraine to attack deep inside Russia using drones smuggled into the country.

The losses suffered by Russia-long-range strategic aircraft-have been estimated by Ukraine to be $7 billion, a truly colossal amount.

The event, dubbed 'Russia's Pearl Harbour' by many online, is a major escalation in the ongoing war.

This has raised fears of a Russian counter-escalation. At the time of writing, Russia hadn't responded with an attack that would be considered such a counter-escalation.

But it seems likely.

This, in turn, has spooked financial markets. ...