- The Dow Jones industrials took the brunt of the selling, sliding 482.57 points or 1.42 percent to 33,596.61.
- The Standard and Poor’s 500 gave up 44.11 points or 1.01 percent to 4,304.76.
- The tech-laden Nasdaq Composite shed 166.55 points or 1.23 percent to 13,381.52.
NEW YORK, New York – Oil prices spikes and stocks dived Tuesday as the Russian-Ukraine crisis escalated, with the U.S. imposing strict sanctions following Russian President Putin’s recognition of two breakaway regions in Ukraine.
“The Russia/Ukraine situation remains very fluid, and tensions remain high, and in the short term that will remain a headwind on stocks,” Tom Essaye, founder of the Sevens Report told CNBC Tuesday.
The Dow Jones industrials took the brunt of the selling, sliding 482.57 points or 1.42 percent, to close Tuesday at 33,596.61.
The tech-laden Nasdaq Composite shed 166.55 points or 1.23 percent to 13,381.52.
The Standard and Poor’s 500 gave up 44.11 points or 1.01 percent to 4,304.76.
The U.S. dollar strengthened against the main basket of currencies but struggled against the Australian and New Zealand dollars.
The euro wilted by 1.1325 approaching the New York close Tuesday. The British pound slipped to 1.3582. The Japanese yen dropped to 115.01. The Swiss franc was sharply lower at 0.9215.
The Canadian dollar weakened to 1.2766. The Australian dollar edged up to 0.7217. The New Zealand dollar was sharply higher at 0.6736.
Overseas, the Dax in Germany fell 0.26 percent. The Paris-based CAC 40 was down just 0.01 percent, while in London, the FTSE 100 rose 0.13 percent.
The Hang Seng in Hong Kong dived 650.07 points or 2.69 percent to 23,520.00.
Japan’s Nikkei 225 tumbled 461.26 points or 1.71 percent, to close Tuesday at 26,449.61.
The Australian All Ordinaries shed 84.80 points or 1.13 percent to 7,422.20.
The S&P/NZX 50 in New Zealand lost 41.71 points or 0.34 percent to 12,111.63.
The Kospi Composite, in Seoul, South Korea fell 37.01 points or 1.35 percent to 2,706.79.
China’s Shanghai Composite retreated 33.47 points or 0.96 percent, to close Tuesday at 3,457.15.
