Here’s the latest news on what stocks are doing.
US stock futures fell after Russia began its siege of Kyiv. Investors once again fled stocks for safer havens, including bonds. The 10-year Treasury yield fell to 1.96%. But some other safe-havens fell, including US oil, which sank to $92.67 a barrel. Brent crude also remained below $100 a barrel. Gold remained flat at just over $1,900 a troy ounce. Dow futures were down 180 points or 0.5%. S&P 500 futures fell 0.5%. Nasdaq futures were 0.3% lower. Russia’s invasion of Ukraine has sent oil futures above $100 a barrel for the first time since 2014 and will probably bring $4-a-gallon gasoline to much of the United States. But it won’t be a major drag on US economic growth. Economists project that at most the nation’s gross domestic product, the broadest measure of its economic activity, will have a few tenths of a percentage point shaved off its growth rate. With the economy growing very strong — GDP had its best growth since 1984 last year — America is expected to weather those higher prices just fine, even if drivers are grumbling.
