As Ukraine war rages, oil prices surge to highest level since 2014
CBSN
Global oil prices soared and U.S. stocks sank Tuesday as Russia stepped up its war on Ukraine.
Stocks fell as investors tried to measure how the conflict would impact the global economy. The S&P 500 dropped roughly 68 points, or 1.6%, to close at 4,306. The Dow Jones Industrial Average lost nearly 598 points, or 1.8%, and the tech-heavy Nasdaq dropped 1.6%. The declines add to the market's losses after a two-month skid for the S&P 500.
The bigger moves came from the markets for oil, agricultural commodities and government bonds. Oil has been a key concern because Russia is one of the world's largest energy producers. The latest bump in prices increases pressure on persistently high inflation that threatens households around the world.
Former President Donald Trump has requested that the judge in his New York criminal trial terminate the limited gag order that restricts him from commenting on witnesses, prosecutors, jurors, court staff and their relatives. His attorney, Todd Blanche, filed a letter on Tuesday arguing that the gag order is no longer justified.
Alaska father dies during motorcycle ride to honor daughter killed in bizarre murder-for-hire scheme
The father of a 19-year-old Alaska woman killed in a murder-for-hire scheme in 2019 died during a weekend memorial motorcycle ride commemorating the fifth anniversary of her death.
GameStop has recently reprised the stock frenzy that gripped the video game retailer in 2021, when the company's share soared as much as 2,000%. Then, as now, the man driving the original "meme stock" is Keith Gill, an amateur trader whose power to move markets stems from his popularity on social media.
A former U.S. soldier has been extradited from Ukraine and is facing charges related to a double murder in Florida and other alleged crimes, officials said Monday. Craig Austin Lang, 34, allegedly committed the double murder as well as armed robbery and aggravated identity theft, according to a news release from the U.S. Department of Justice.