Oil prices soared and investors shifted more money out of stocks and into ultra-safe U.S. government bonds as Russia stepped up its war on Ukraine.
The price of oil surged back above $100 a barrel Tuesday to its highest level since 2014 after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine. The rush into bonds pushed the yield on the 10-year Treasury back down to 1.73%, where it was in January.
On Tuesday:
The S&P 500 fell 67.68 points, or 1.5%, to 4,306.26.
The Dow Jones Industrial Average fell 597.65 points, or 1.8%, to 33,294.95.
The Nasdaq fell 218.94 points, or 1.6%, to 13,532.46.
The Russell 2000 index of smaller companies fell 39.58 points, or 1.9%, to 2,008.51.
For the week:
The S&P 500 is down 78.39 points, or 1.8%.
The Dow is down 763.80 points, or 2.2%.
The Nasdaq is down 162.16 points, or 1.2%.
The Russell 2000 is down 32.42 points, or 1.6%.
For the year:
The S&P 500 is down 459.92 points, or 9.6%.
The Dow is down 3,043.45 points, or 8.4%.
The Nasdaq is down 2,112.51 points, or 13.5%.
The Russell 2000 is down 236.81 points, or 10.5%.
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