Wall Street Down Sharply On Ukraine War Fears

Wall Street stocks ended sharply lower on Friday (Feb. 11, 2022 in Manila) for the second straight session, as investors fretted about deepening tensions between Russia and Ukraine, Bansari Mayur Kamdar and Noel Randewich reported for Reuters.

Photo Insert: The Dow Jones Industrial Average fell 1.43% to end at 34,738.06 points, while the S&P 500 lost 1.90% at 4,418.64. The Nasdaq Composite dropped 2.78% to 13,791.15.

Nine of the 11 major S&P 500 sector indexes declined, led by technology, down 3.0%, and consumer discretionary down 2.8%. The energy sector index surged 2.8% as oil prices hit seven-year highs.

With investors already fretting about inflation and rising interest rates, selling on Wall Street accelerated after Washington warned that Russia had massed enough troops near Ukraine to launch a major invasion and that an attack could begin any day.

"We just have to see how this plays out over the weekend and whether or not international leadership can bring this under wraps," said Thomas Hayes, managing member at Great Hill Capital LLC in New York. "If not, then the knock-on effects could be material, and that's what the markets is worried about."

Nvidia Corp. tumbled 7.3%, Amazon.com Inc. dropped 3.6%, and Apple Inc. and Microsoft Corp. both lost over 2%. The four companies weighed more than any others on the S&P 500's decline.

The Dow Jones Industrial Average fell 1.43% to end at 34,738.06 points, while the S&P 500 lost 1.90% at 4,418.64. The Nasdaq Composite dropped 2.78% to 13,791.15. The Philadelphia Semiconductor index sank 4.83%.

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