Dow plunges nearly 800 points as Ukraine jitters linger
U.S. stocks sank as investors feared that the ongoing Russia-Ukraine War would complicate inflation outlook and cloud the economy. This was reported by The Xinhua News Agency.
The Dow Jones Industrial Average tumbled 797.42 points, or 2.37%, to 32,817.38. The S&P 500 fell 127.78 points, or 2.95%, to 4,201.09. The Nasdaq Composite Index shed 482.48 points, or 3.62%, to 12,830.96.
Nine of the 11 primary S&P 500 sectors ended in red, with consumer discretionary and communication services down 4.8% and 3.74 percent, respectively, leading the laggards. Energy and utilities rose 1.57% and 1.31 percent, respectively, the only two gaining groups.
- S.-listed Chinese companies traded mostly lower with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
The weakness came as the geopolitical risks over Ukraine continued to grip investors.
For the week, the Dow and the S&P 500 both slid 1.3%, while the tech-heavy Nasdaq lost 2.8%.