The major averages declined to start the holiday-shortened week amid brewing tensions between Russia and Ukraine.
 | TUE, FEB 22, 2022 | | | | DOW | | NAME | LAST | CHG | %CHG | | AAPL | 164.32 | -2.98 | -1.78% | | INTC | 44.69 | -0.35 | -0.78% | | MSFT | 287.72 | -0.21 | -0.07% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AMD | 115.65 | +1.82 | +1.60% | | F | 17.29 | -0.75 | -4.16% | | AAPL | 164.32 | -2.98 | -1.78% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 115.65 | +1.82 | +1.60% | | AAPL | 164.32 | -2.98 | -1.78% | | NVDA | 233.90 | -2.52 | -1.07% | |
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Stocks slid to start the holiday-shortened week, and the S&P 500 closed in correction territory as tensions brewed between Russia and Ukraine. The Dow Jones Industrial Average lost more than 480 points on Tuesday, pushed lower by an almost 9% drop in Home Depot. Tuesday was the Dow's fourth straight session of losses. The broad-market index dropped 1% and ended the day in correction territory — more than 10% off its most recent all-time high close. The technology-heavy Nasdaq Composite fell 1.2%. Stocks, however, closed off their lows of the day. Investors sold riskier assets after Russian President Vladimir Putin said Monday that he would recognize the independence of two breakaway regions in Ukraine. President Joe Biden then announced sanctions on Russian bank VEB and its military bank, Russia's sovereign debt and certain wealthy individuals and their families.  The VanEck Russia ETF, a U.S.-traded security which invests in top Russian companies, closed 8.9% lower on Tuesday. "Putin sending troops in has only added to the uncertainty and investors are taking a sell first and ask questions later mentality," said Ryan Detrick of LPL Financial. "The truth is Russia isn't a major trading partner with the U.S. and past geopolitical events haven't been longer-term worries for stocks, but with emotions running high right now, it will take some time for cooler heads to prevail." |
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