Global stocks drop amid heightened Ukraine-Russia tensions
CNN
Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia.
Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia. The Dow fell 300 points at the opening bell, then dropped further into the red, losing 430 points, or 1%. The S&P 500 lost 0.5% and the Nasdaq Composite moved lower by around 0.2%. The selling comes after Moscow changed its nuclear doctrine following the Biden administration giving Ukraine permission to use longer-range weapons inside targets in Russia. “Today is a reflection of concern that, after 1,000 days, the Russia-Ukraine conflict looks like it’s getting hotter,” said Art Hogan, chief market strategist at B. Riley Wealth Management. Not only did US stocks fall, but investors piled into safe havens like gold and US debt. Gold prices jumped on Tuesday and US Treasury rates dipped. Ukraine fired US-made ATACMS missiles into Russia’s Bryansk region, Russia’s Defense Ministry said Tuesday, in a major escalation.
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