Dow Suffers Its Worst Drop of the Year

Index falls 622 points on rising Russia-Ukraine tension
By Newser Editors,  Newser Staff
Posted Feb 17, 2022 3:16 PM CST
Dow Suffers Its Worst Drop of the Year
In this photo provided by the New York Stock Exchange, trader David O'Day works on the floor Wednesday.   (Courtney Crow/New York Stock Exchange via AP)

The stock market rose earlier this week when Russia-Ukraine tensions appeared to ease. Now that the global standoff is worsening, so, too, is the stock market. The Dow fell 622 points on Thursday, or 1.7%, to 34,312; the S&P 500 fell 94 points, or 2.1%, to 4,380; and the Nasdaq fell 407 points, or 2.8%, to 13,716. As MarketWatch points out, the 622-point drop by the Dow is its worst daily decline of the year. “In the short term, the market is just moving to the indications that it’s seeing out of Russia,” Yung-Yu Ma, chief investment strategist at BMO Wealth Management, tells CNBC. “That negativity and that additional cloud over the market definitely has a lot of weight right now.” (Read more stock market stories.)

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