The S&P 500 moved lower on Wednesday, falling deeper into correction territory amid escalating tensions between Russia and Ukraine.
The Dow is in the red for its fifth straight session and the S&P 500 for the fourth session as investors have been juggling brewing tensions between Russia and Ukraine.
The Ukraine Ministry of Digital Transformation said Wednesday there was another mass DDoS [denial of service] attack on Wednesday that prevented certain entities from accessing government websites, NBC reported. On Tuesday afternoon President Joe Biden announced a first tranche of sanctions against Russia. The measures target Russian banks, the country's sovereign debt and three individuals.
he VanEck Russia ETF, a U.S.-traded security which invests in top Russian companies, dropped more than 7% on Wednesday. "While uncertainties remain, our work shows that historically military/crisis events tend to inject volatility into markets and often cause a short-term dip, but stocks tend to eventually rebound unless the event pushes the economy into recession," Eylem Senyuz, senior global macro strategist at Truist, wrote in a note to clients.Stock picks and investing trends from CNBC Pro:
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