US stocks open lower amid Ukraine tensions

NEW YORK, Feb. 22 (Xinhua) -- U.S. stocks fell on Tuesday morning as investors assessed the ongoing Ukraine crisis.

Shortly after the opening bell, the Dow Jones Industrial Average decreased 330.18 points, or 0.97 percent, to 33,749.00. The S&P 500 dropped 30.95 points, or 0.71 percent, to 4,317.92. The Nasdaq Composite Index dipped 106.82 points, or 0.79 percent, to 13,441.25.

Traders work on the floor of the New York Stock Exchange at the opening bell on February 22 2022, in New York. (Photo: AFP)

Nine of the 11 primary S&P 500 sectors pulled back in morning trading, with consumer discretionary and materials both down more than 1 percent, leading the laggards. The energy and the communication services groups eked out modest gains.

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.