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Thursday, 02/24/2022 9:04:09 AM

Thursday, February 24, 2022 9:04:09 AM

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U.S. stock futures plunged in pre-market trading Thursday after Russian President Vladimir Putin announced Russian troops would enter Ukraine. The drop follows a tumultuous day on Wall Street that saw all three major benchmarks log their lowest levels this year so far as Russia-Ukraine tensions continued to weigh on investor sentiment.

Futures tied to the Dow fell 750 points, or 2.27% to 32,316.00, while the S&P 500 erased 2.15% after closing more than 10% from its record closing high on Jan. 3 in the previous session. Contracts on the Nasdaq Composite were down 367 points, or 2.72%. Meanwhile, gold prices surged 2.1% to $1,970 an ounce, hovering around a one-year high, as traders bought up safe-haven plays amid the news.

“I condemned this unprovoked and unjustified attack by Russian military forces,” President Joe Biden said in a tweet, also indicating he spoke with Ukrainian President Volodymyr Zelenskyy on steps the administration is taking to rally international condemnation.

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Markets have been wrought this week with what appeared to be dwindling prospects of a resolution to the geopolitical conflict between Russia and Ukraine. President Joe Biden on Tuesday unveiled the “first tranche” of financial sanctions targeting Russia in response to Vladimir Putin’s move to recognize the independence of two pro-Moscow separatist republics in east Ukraine and deploy troops into the areas — a move seen by Western countries as a provocation and breach of international law.


https://finance.yahoo.com/news/stock-market-news-live-updates-february-24-2022-232946494.html

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