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US indices edged lower on Tuesday, February 22, dragged down by energy and materials stocks after Russian troops advanced into Ukraine’s two breakaway regions, deepening the crisis.
The S&P 500 declined 1.01% to 4,304.76. The Dow Jones fell 1.42% to 33,596.61. The NASDAQ Composite fell 1.23% at 13,381.52, and the small-cap Russell 2000 was down 1.46% to 1,979.99.
Russian President Vladimir Putin on Monday ordered his troops to enter the two breakaway regions of eastern Ukraine after declaring their independence.
Investors on Tuesday withdrew their positions from the volatile market as a full-scale invasion loomed. Analysts warned of a deteriorating inflation situation, already at a record high.
All the 11 sectors of the S&P 500 closed sharply lower on Tuesday. Consumer discretionary, energy and basic material sectors were the hardest hit.
The home improvement retailer Home Depot, Inc. (HD) stock plunged more than 8.5% in intraday trading after reporting over 14% sales growth in fiscal 2021.
Macy's Inc (M) stock fell 3.76% after posting strong fourth-quarter and full-year results. The company expects its profit margin to decline due to inflationary pressures.
Digital World Acquisition Corp. (DWAC) stock jumped more than 9.7% after Donald Trump's Truth Social app topped downloads on Apple Inc. (AAPL) store just two days after its launch.
The Trump-led Trump Media & Technology Group (TMTG), which launched the Truth Social app, is in talks with the SPAC company DWAC to go public.
The SoFi Technologies, Inc. (SOFI) stock declined over 8.6% after news reports about its purchase of banking software company Technisys for US$1.1 billion.
In the energy sector, Exxon Mobil Corporation (XOM) stock declined more than 1%, Chevron Corporation (CVX) fell 0.82%, and ConocoPhillips (COP) decreased by 1.56%. EOG Resources Inc. (EOG) was down 1.46%, and Shell Plc (SHEL) fell 1.01%.
In the consumer discretionary sector, Tesla Inc. (TSLA) stock fell 4.29%, Amazon.com Inc. (AMZN) declined 1.15%, and Nike Inc. (NKE) fell 3.17%. Alibaba Group Holding Limited (BABA) and Lowe's Companies, Inc. (LOW) fell 4.67% and 3.92%, respectively.
In the utility sector, Duke Energy Corporation (DUK) stock plunged 0.40%, National Grid Plc (NGG) declined 1.20%, and Exelon Corporation (EXC) fell 0.05%. Eversource Energy (ES) and WEC Energy Group, Inc. (WEC) decreased by 0.58% and 1.12%, respectively.
The global crypto market was down 0.84% to US$1.71 trillion, as per coinmarketcap.com at 3:38 pm ET. Bitcoin’s (BTC) price fell 0.29% to US$38,024.71 in the last 24 hours.
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Futures & Commodities
Gold futures surged 0.16% to US$1,902.90 per ounce. Silver futures increased by 0.80% to US$24.185 per ounce, while copper futures declined 0.43% to US$4.5000.
Brent oil futures increased by 0.30% to US$93.27 per barrel and WTI crude futures were up by 1.36% to US$91.45.
Bond Market
The 30-year Treasury bond yields decreased 0.44% to 2.239, while the 10-year bond yields were up 0.20% to 1.934.
US Dollar Futures Index surged 0.05% at US$96.067.
