S&P 500 slides back to 4300 as investors fret about economic impact of harsh Western sanctions on Russia By Frank_Macro SP500 Equities
US equities were sharply lower on Tuesday as investors worried about the global economic impact of harsh Western sanctions against Russia.
The Dow, S&P 500 and Nasdaq 100 all shed in the region of 1.5-2.0% on the day as commodity prices surged.were sharply lower on Tuesday as investors fretted about the global economic impact of the West’s harsh sanctions against Russia, and as the country intensified its bombardment of Ukrainian cities. Commodity prices, from crude oil to gas to wheat, surged on Tuesday, igniting fears about longer-lasting inflationary pressures in the US and Europe and sparking talk of stagflation.
Similarly, the Nasdaq 100 index fell back to the 14K area to post a drop of more than about 1.6%, despite a sharp drop in yields as investors sought safety in US government debt markets and revised lower US growth/Fed tightening expectations. The drop in yields weighed heavily on the Dow, which is more heavily weighted to cyclical/more economically sensitive stocks . The index was last also down more than 1.7%, in tandem with its peers.
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