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US market close: Market sags amid Russian siege of Ukraine

By Joseph Toppe

21:08, 22 February 2022

Wall Street
Gold and oil rise Tuesday afternoon - Photo: Shutterstock

The big US benchmarks fell across the board on Tuesday as investors responded to the repercussions of war between Russia and Ukraine.

On Tuesday, the Dow Jones Industrial Average (US30) lost 482 points, or 1.42%, the S&P 500 went down 1.01%, while the Nasdaq Composite (US100) lost 1.23%.

Halfway through the session, the Dow was down approximately 309 points, or 0.91%, the S&P was down around 0.59%, and the Nasdaq was roughly 0.67% lower.

Russian army advances on Ukraine

On Tuesday, Russian forces entered Ukraine after amassing roughly 190,000 troops along the country’s border.

In a statement issued by the White House yesterday, Press Secretary Jen Psaki said the Biden Administration anticipated the Russian move and are “ready to respond immediately."

According to the statement, the US will use a series of sanctions through an executive order prohibiting new investment, trade, and financing by US persons to the two Ukrainian regions that Russian President Vladimir Putin recognised as independent.

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Winners & losers: Banking bottoms out

In the banking sector, shares of Wells Fargo are off 0.63%, Citigroup is down 0.39%, and JPMorgan is 0.18% lower.

Meanwhile, First Republic Bank rose 1.77%, BlackRock went back 1.39%, while Bank of America retreated 0.87%, and Goldman Sachs dropped 0.51%.


19,724.90 Price
+0.810% 1D Chg, %
Long position overnight fee -0.0225%
Short position overnight fee 0.0005%
Overnight fee time 21:00 (UTC)
Spread 30.0


39,997.70 Price
+0.360% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 11.0


5,305.70 Price
+0.240% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 1.7


18,549.60 Price
+0.020% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 21:00 (UTC)
Spread 7.0

The travel industry is also down on Tuesday as shares of American Airlines lost 2.46%, Delta Airlines dropped 2.22%, while Southwest Airlines retreated 0.78% and United Airlines fell 2.24% into negative territory.

Oil: US benchmark spikes

Oil futures are higher on Tuesday as West Texas Intermediate crude for March delivery added $1.28, or 1.4%, to end at $92.35 a barrel on the New York Mercantile Exchange.

In energy stock, shares of Hess lost 0.13% and Exxon Mobil went down 1.24%.

Gold: Metals rise

Gold futures went up with April gold adding $7.60, or 0.4%, to settle at $1,907.40 an ounce, while March Silver went up 1.3% to settle at $24.311 an ounce.

Treasury: Yield up slightly

On Tuesday, the yield on the benchmark 10-year U.S. Treasury note rose 1.940%, from 1.930% Friday.

Forex: USD holds

The US dollar equals $0.88 of the euro, $0.74 of the British pound sterling and $1.27 of the Canadian dollar.

Markets in this article

American Airlines Group Inc (Extended Hours)
14.79 USD
-0.06 -0.410%
American Airlines Group Inc (Extended Hours)
14.79 USD
-0.06 -0.410%
Bank of America Corp (Extended Hours)
39.31 USD
0.07 +0.180%
Bank of America Corp (Extended Hours)
39.31 USD
0.07 +0.180%
813.05 USD
3.91 +0.480%

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Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

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