Stocks fell broadly in morning trading on Wall Street Thursday, chipping away at the weekly gains for major indexes.
Stocks and bond yields sank Thursday as markets remained anxious over the possiblity that Russia could invade Ukraine. The S&P 500 fell 2.1%, its biggest drop in two weeks. Technology stocks led the way lower, pulling the Nasdaq down 2.9%. Investors shifted money into low-risk U.S. government bonds, pushing yields lower. The yield on the 10-year Treasury fell to 1.96%. Markets are unsettled by Russia’s buildup of troops near Ukraine, and U.S. President Joe Biden said there was a high risk that Russia would invade the country. European markets closed lower. Walmart rose after reporting strong results. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. Technology companies led a broad slide for stocks on Wall Street in afternoon trading Thursday, as renewed fear that Russia would invade Ukraine put global financial markets on edge. The S&P 500 fell 2% as of 3:09 p.m. Eastern, on pace for its first loss in three days. The Dow Jones Industrial Average fell 595 points, or 1.7%, to 34,337 and the tech-heavy Nasdaq composite fell 2.6%. The losses wiped out the major indexes’ weekly gains. More than 85% of the stocks in the benchmark S&P 500 were in the red. The technology sector was the biggest drag on the index, along with communication stocks and companies that rely on consumer spending.
