S&P 500 Erases Losses From Russia's Invasion

Benchmark index rises for second straight week
By Newser Editors and Wire Services
Posted Mar 25, 2022 3:05 PM CDT
S&P 500 Erases Losses From Russia's Invasion
The Wall St. street sign is framed by the American flags flying outside the New York Stock Exchange in this file photo.   (AP Photo/Mary Altaffer, File)

(Newser) – Major stock indexes posted gains on Friday as the benchmark S&P 500 registered its second winning week in a row. In fact, CNBC notes a milestone: The index has erased the losses it suffered in the immediate aftermath of Russia's invasion of Ukraine. On Friday, the S&P rose 22 points to 4,543 and the Dow rose 153 points to 34,861, though the tech-dominated Nasdaq fell 22 points to 14,169. Major indexes have been alternating between gains and losses all this week as markets try to suss out what’s next for inflation and the global economy as the the repercussions of Russia’s invasion continue to play out, per the AP.

Technology stocks fell and checked gains elsewhere in the market. Big technology companies have outsized values that tend to lend more weight in pushing the broader market higher or lower. Chipmaker Nvidia fell 2.4%. Crude oil prices, meanwhile, gained ground after slipping earlier. The price for US benchmark crude oil rose 1.4% to settle at $113.90 per barrel, while a barrel of Brent crude, the international standard, rose 1.4% to $120.65. Prices are still up about 50% globally for the year.

(Read more stock market stories.)

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