US benchmarks end with steep losses amid geopolitical standoff between Russia and Ukraine

At the close, the S&P 500 was down 1.8% at 4,226, while the Nasdaq Composite suffered heavy losses of 2.6% at 13,037, and the Dow Jones Industrial Average was down more than 450 points or 1 .4%, closing at 33,132.

4:02 p.m .: S&P fell 1.8%

U.S. stocks ended with steep losses on Wednesday as the S&P 500 plunged deeper into correction territory amid fears of a war between Ukraine and Russia.

At the close, the S&P 500 was down 1.8% at 4,226, while the Nasdaq Composite suffered heavy losses of 2.6% at 13,037. The Dow Jones Industrial Average was down more than 450 points or 1, 4%, closing at 33,132.

Among the companies that suffered significant losses on Wednesday were Macy’s, down 5%, and Tesla, whose shares were down more than 7%.

Investors continued to worry about inflation and the Fed’s watchdog policy decision – all as the standoff between Ukraine and Russia threatened the supply chain, mounting inflationary pressure .

12:05 p.m.: S&P 500 plunges deeper

U.S. benchmarks fell midday as morning gains faded amid escalating tensions between Russia and Ukraine.

The S&P 500 plunged 0.2%, falling deeper into correction territory, while the tech-savvy Nasdaq Composite lost 0.5% and the Dow Jones Industrial Average lost 18 points or so. percentage stable at 33,574.

“Yet another bounce has been sold, with stocks falling as the US session continues,” said Chris Beauchamp, chief market analyst at online trading platform IG.

While the first round of sanctions imposed on Russia by the West may have been mild, a Russian response and further Western sanctions will put additional pressure on the global economy, the analyst warned.

“In addition to dealing with the conflict itself, should it arise, investors should worry about the risk of headlines in the form of retaliatory sanctions from Russia and further sanctions against Moscow from the US. ‘West,” Beauchamp said.

He added: “For a market that was already worried about how higher interest rates and higher inflation would affect growth, the prospect of further sanctions and another hit to economic growth means that stock valuations are always in question.”

On the corporate front, shares of Lowe’s Companies soared after its upbeat quarterly results showed a 5% increase in sales. Shares of the company gained more than 3% on Wednesday.

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10 a.m.: Market rebound

US markets opened in the green a day after the S&P ended in correction territory amid escalating geopolitical tensions between Russia and Ukraine, leading the US to impose sanctions on Moscow.

The S&P 500 recouped losses, gaining 0.5% to 4,318, while the Dow Jones Industrial Average gained 0.2%, or 70 points, to 33,667, and the tech-heavy Nasdaq Composite rose 0. .2%.

“Stock markets are back in positive territory on Wednesday as investors await Russia’s response to the West’s initial sanctions,” said Craig Erlam, senior market analyst, UK and EMEA, OANDA.

Erlam noted that as long as both sides continue to claim a desire for a diplomatic solution and troops remain on the correct side of the border, “we could continue to see these kinds of bounces.”

“Markets have been under a lot of pressure this year and investors are going to be tempted to get back to those levels,” he added.

Investors are under increased market pressure and volatility ahead of threats of war between Ukraine and Russia, as well as potential Federal Reserve interest rate hikes, likely to be exceeded by at least 25 basis points baseline at the mid-March meeting.

6:30 am: US stocks open

US stocks are set to open higher, recouping some of their losses after the European Union and countries like the US, UK and Japan imposed only moderate sanctions on Russia after President Vladamir Putin has sent troops to two breakaway regions of Ukraine.

Futures for the Dow Jones Industrial Average rose 0.5% pre-market on Wednesday, while those for the broader S&P 500 index gained 0.58% and the tech-heavy Nasdaq added 0. .88%.

U.S. stocks closed lower on Tuesday amid the Russia-Ukraine standoff on fears that geopolitical tensions could also lead to supply chain issues, adding to inflationary pressures as the Federal Reserve prepares to raise rates of interest from March.

At the close, the Dow Jones Industrial Average fell 1.42% to 33,597, while the S&P 500 fell 1.01% to 4,305, and the Nasdaq Composite lost 1.23% to 13,382.

“Markets are peeking behind the curtain of risk as sanctions announced by the US, UK and Europe against Russia have failed to address the market’s worst fears,” commented Han Tan, chief market analyst at Exinity Group.

“Most Asian markets rise alongside European and US stock futures as bulls attempt to pull the S&P 500 out of a technical correction again.”

Tan noted that safe havens have moderated, with spot gold falling back below $1,900, Treasury yields rising and the dollar losing ground against most of its G10 peers.

“Instead of sending the strongest possible message, the first tranche of sanctions by Western allies are seen as mere thumbtacks that induce only limited discomfort on Russia, at least for now. Some of the Sanctions imposed on Russian banks are largely symbolic and have limited impact on its financial relations with the rest of the world.

Although Ukraine’s Western allies have highlighted other possibilities for economic retaliation, Mr. Tan said Tuesday’s announcements hinted at more room for maneuver for Russia, noting that the measures of the EU still needed to be confirmed by member states, while U.S. lawmakers continued to wrangle over a bipartisan set of Russian sanctions.

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