Latest News

Market Snapshot: S&P 500 suffers biggest 3-day string of declines since October 2020 as investors monitor Russia-Ukraine crisis


U.S. stock futures slipped Monday, on worries that a possible Russian attack on Ukraine would further exacerbate supply issues with inflation at a 40-year high.

What’s happening

Futures on the Dow Jones Industrial Average

declined 281 points, or 0.8%, to 34346

Futures on the S&P 500

fell 0.9% or 41 points, to 4369

Futures on the Nasdaq 100

dropped 1.1%, or 153 points, to 14087

On Friday, the Dow Jones Industrial Average

fell 504 points, or 1.43%, to 34738, the S&P 500

declined 85 points, or 1.9%, to 4419, and the Nasdaq Composite

dropped 394 points, or 2.78%, to 13791.

Heading into Monday’s trade, the S&P 500 has dropped 7% this year.

What’s driving markets

Tensions remained high on Monday with Russian forces training on Ukraine’s border in Belarus as well as its ships stationed on the Black Sea. According to the Associated Press, Russia has massed 130,000 troops near Ukraine.

German Chancellor Olaf Scholz was visiting Ukraine and Russia on Monday with fears that time is running out to prevent a war. Over the weekend, U.S. President Joe Biden and Russian President Vladimir Putin held talks, with no tangible progress. Ukraine has requested a meeting with Russia.

Investors fled to the safety of government bonds. The yield on the 10-year Treasury

fell to 1.91%.

“Risk is firmly off this morning after fears of an imminent Russian invasion of Ukraine built further over the weekend,” said Ian Williams, a strategist at U.K. broker Peel Hunt.

Crude futures

traded around $93 per barrel and have surged 24% this year. The lead U.K. natural-gas contract

jumped 6%.

St. Louis Fed President James Bullard, who spooked financial markets with his comments about supporting a half-point rate hike in the wake of data showing inflation running 7.5% year-over-year, is due to be interviewed by CNBC. Other Fed officials have since said they have yet to be convinced for the need of a half-point rate hike.

Warren Buffett Lieutenant Ted Weschler Makes a Big Score on Dillard’s

Previous article

Should I Buy Long-Term Care Insurance?

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News