Sephora’s exit comes as European and US sanctions on the country have made operations in Russia increasingly complex. It joins Nike Inc. which also said last month that it was leaving Russia.

Total returns for the FTSE Nareit All Equity REITs index are down 20 percent year-to-date amid broader macroeconomic concerns, but REIT balance sheets and real estate fundamentals remain on solid footing.

“We’re seeing a slowdown in our order intake in the construction sector, and those customers are typically the fastest to react,” said Rob Van Gils, CEO of Hammerer Aluminum Industries.

Ghost kitchens were a pandemic winner. But with people coming back to indoor dining and starting to watch their spending, the sector is experiencing some growing pains.

After surging 11.4 percent over the past 12 months, the median national rent for a one-bedroom apartment rose just 0.5 percent in June, according to data from rental marketplace Zumper.

With human interaction cited among the main reasons for workers to go into the office, landlords are focusing on common spaces and gyms.