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The Dow Jones Industrial Average dropped more than 600 points on Thursday, a fall likely triggered by the Ukraine and Russia conflict in Europe.The Dow closed down 1.8 percent, its worst slide yet in 2022, CNBC reported. The S&P 500 dipped 2.1…

S&P 500 sees its biggest daily drop in two weeks as investors flee to safety

NEW YORK, Feb. 17 (Xinhua) -- U.S. stocks fell sharply on Thursday as investors have been haunted by the ongoing Ukraine crisis. The Dow Jones Industrial Average decreased 622.24 points, or 1.78 percent, to 34,312.03. The S&P 500 dropped 94.75 points, or 2.12 percent, to 4,380.26. The Nasdaq Composite Index shed 407.37 points, or 2.88 percent, to 13,716.72. Nine of the 11 primary S&P 500 sectors ended in

Geopolitical tensions and monetary policy jitters have weighed on sentiment in recent days, fueling market volatility and creating an unfavorable trading environment for the S&P 500.

U.S. indices traded sharply lower Thursday amid growing concerns over a potential Russian attack on Ukraine. The Nasdaq composite traded lower by 2.90% to 13,716; The Invesco QQQ Trust Series 1 (NASDAQ: QQQ ) lost 2.97% to $345.45 The S&P 500 traded fell by 2.12% to 4,380; The SPDR S&P 500 ETF Trust (NASDAQ: SPY ) lost 2.14% to $437.06 The Dow Jones composite traded lower by 1.56% at 11,445; The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA ) finished lower by … Full story available on Benzinga.com

Stocks plunged on Thursday as rhetoric over Ukraine and Russia heats up, and cash moved into Treasuries, pushing yields lower.

US equity markets were under pressure on Thursday, with all major US indices dropping more than 1.5% on the day as Russia/Ukraine/NATO tensions contin

Stocks Are Caught In A "Resevoir Dogs” Standoff While the core drivers of (very negative) risk sentiment today have been the re-escalation of the geopolitical tensions in Ukraine coupled with Goldman''s unexpected admission that " the economy may be slowing more than expected ", it is quite likely that all this could flip with just one headline out of the White House as we have observed on several occasions in recent weeks, when geopolitical sentiment reversed on a dime (although as Zoltan Poszar today suggested, a crash may be precisely what Powell and Biden both want to cap inflation, even though all a stock market crash would achieve is sending the economy into a recession). But below the barrage of conflicting headlines, a just as fierce tug of war emerges when looking at the sharply polarized technicals, flows and dealer "greek" positioning, which are far more powerful and persistent than geopolitical newsflow. A good recap of many of these forces comes courtesy of Nomura''s Charlie McElligott who, in his usual florid style, first looks at events earlier this week, writing that the rally which we have seen off the Monday lows was largely from the “squeeze fodder” of Dealer “short hedges” around the "biblical demand" for Index downside over the past few months (iVol absolutely collapsed by mid-week) as well as hedge fund dynamic covering in their recently grossed-up “short books" - as a reminder last week we noted that according to Goldman Prime the cumulative short flow within the hedge fund sector since 12/31 has been the largest in more than 10 years… ... which has been more mechanical, like virtually everything else in this flow and positioning driven market, than anything else (and certainly not about any sort of “sentiment upgrade”).

The S&P 500 has been hit rather hard during the trading session again, but the 200 day EMA seems to be trying to pick the market back up. That being said, it is interesting to see how geopolitical issues continue to be at the forefront and cause such havoc.

Shares of Mullen Automotive Inc. bounced 3.9% in midday trading Thursday, putting them on course to snap a record-long 11-day losing streak, after the electric vehicle maker said it was on track to meet its operational goals and listed a number of recent accomplishments in response to the selloff. Mullen also stated: "The company is unaware of any business reason for the current decline of the Mullen stock (MULN) price." The stock had plummeted 75.6% over the past 11 sessions to close Wednesday at a split-adjusted record low of 87 cents (the stock had undergone two 1-for-10 reverse stock splits, on in October 2017 and the other in May 2016). The previous record losing streak was the 10-day stretch that ended April 2, 2018. Mullen Thursday that it was on track to deliver the first EV cargo van fleet in the second quarter, and said high-performance versions of its Mullen FIVE EV is scheduled to arrive in late-summer 2022. The stock has plummeted 92.6% over the past three months, while the Global X Autonomous & Electric Vehicles ETF has slumped 9.7% and the S&P 500 has declined 5.6%.

Shares of US Foods Holdings Corp. pared some of losses, after the foodservice and distribution company''s "updated" its full-year adjusted earnings per share outlook higher, but that outlook remained below expectations. The company reported before the opening bell fourth-quarter profit that came up shy for Wall Street forecasts while revenue topped expectations. It had also said it expected 2022 adjusted EPS of $1.80 to $2.10. On the post-earnings conference call with analysts, the company said it noticed an "inadvertent error" in the original press release, so that release was "updated" to show the correct 2022 adjusted EPS guidance range of $1.95 to $2.25, which was still below the FactSet consensus of $2.46. The stock slumped 1.5% in morning trading, but was down as much as 3.6% earlier in the session. The stock, which closed Wednesday at an eight-month high, has still gained 12.4% over the past three months, while the S&P 500 has shed 5.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.

Short-term Bitcoin price action looks unappetizing thanks to a macro cocktail of downward triggers. Bitcoin ( BTC ) fell further with stocks on the Wall Street open Thursday as nervous markets awaited further U.S. economic policy cues and battled geopolitical tensions. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Macro conditions stay grim for stocks, crypto Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing the $42,000 mark for the first time in several days at the start of trading. The Fed and tensions over Ukraine had already formed a backdrop to lackluster market performance both in crypto and beyond, with that trend staying firmly in force on the day. With the likelihood increasing that a rate hike could come from the U.S. next month, attention was on James Bullard, president of the St. Louis Fed, ahead of a statement due less than an hour from the time of writing. Speaking to mainstream media Wednesday, Bullard gave strong signals that he was in favor of raising rates harder and faster to combat inflation. "We are missing our inflation target on our preferred measure… and policy is still at rock bottom lows and we’ve still got asset purchases going on," he told CNN quoted by Reuters. "This is a moment where we need to shift to less accommodation." Any hastening of anti-inflation measures would pressure booming stocks, despite multiple rate hikes already notionally priced in.

Declines in financials and tech lead the 11 sectors of the S&P 500 lower as the threat of a military conflict between Russia over Ukraine grows.