BUSINESS Dow sheds 480 points amid Ukraine tensions

BUSINESS

Dow sheds 480 points amid Ukraine tensions

Xinhua

08:36, February 23, 2022

NEW YORK, Feb. 22 (Xinhua) -- U.S. stocks fell noticeably on Tuesday, pressured by the ongoing Ukraine crisis.

The Dow Jones Industrial Average dropped 482.57 points, or 1.42 percent, to 33,596.61. The S&P 500 fell 44.11 points, or 1.01 percent, to 4,304.76. The Nasdaq Composite Index decreased 166.55 points, or 1.23 percent, to 13,381.52.

A trader works at the New York Stock Exchange in New York, the United States, Feb. 17, 2022. (Allie Joseph/NYSE/handout via Xinhua)

All the 11 primary S&P 500 sectors ended in red, with consumer discretionary and energy down 3.04 percent and 1.53 percent, respectively, leading the losses.

U.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 above market reactions came as investors nervously eyed updates concerning the geopolitical tensions over Ukraine.

The Federal Reserve also remained a focus on Wall Street as investors bet on aggressive policy tightening from the U.S. central bank.

U.S. financial markets were closed on Monday in observance of Presidents Day.

For the trading week ending Friday, the Dow and the S&P 500 slipped 1.9 percent and 1.6 percent, respectively, while the tech-heavy Nasdaq Composite sank 1.8 percent.

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