NEW YORK — Stocks closed broadly lower Tuesday after Russia sent forces into Ukraine’s eastern region and the U.S., European Union and U.K. responded with economic sanctions.
“We’re overdue, and right now the market has been knocked for a loop from the one-two punch of higher interest rates plus geopolitical tensions,” said Sam Stovall, chief investment strategist at CFRA.The latest losses come as investors closely watched the crisis in Ukraine a day after Russia recognized the independence of several regions in Eastern Ukraine and decided to send in forces. On Tuesday afternoon, President Joe Biden announced the U.S.
The Dow Jones Industrial Average fell 482.57 points, or 1.4%, to 33,596.61. The blue chip index had been down more than 700 points in the early going. The Nasdaq slid 166.55 points, or 1.2%, to 13,381.52. Small company stocks fared worse than the broader market. The Russell 2000 index fell 29.16 points, or 1.5%, to 1,980.17.
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