The U.S. stock market fell sharply on Monday as investors turned away from riskier assets such as equities in the wake of escalating tensions in Ukraine.Better-than-expected consumer and manufacturing data provided little relief.
The S&P 500 index was down 15.70 points, or 0.8%, at 1,844.08, after scoring its 48th record close for the past year on Friday. All 10 main sectors were trading lower.The Dow Jones Industrial Average fell 159 points, or 1%, to 16,162.58.The Nasdaq Composite was 42.40 points, or 1%, lower at 4,265.47.
As escalating military tensions in Ukraine dominated news on Monday, better-than-expected economic reports did little to provide relief from broad-based selling.
The Markets fear of a possible military action in Ukraine and its impact on Europe is driving the markets today.
Consumers boosted spending in January, but a good chunk of the money went to pay higher utility bills during an unusually cold winter, according to government data released Monday.
The final reading of Markit’s U.S. purchasing managers index accelerated in February, the economic information firm said Monday. The final reading for February was the highest level in almost four years. The report shows that output and new business picked up sharply.
U.S. manufacturers expanded in February at a somewhat faster pace, according to the closely followed ISM index.
Shares in Ford Motor Co fell 1.4%, while shares in General Motors were mostly unchanged after the release of February auto sales reports.
Chrysler Group LLC, a U.S. subsidiary of Italy-based Fiat SpA, said Monday that its U.S. sales in February increased 11% from a year earlier and topped estimates. Chrysler’s growth marks its best February since 2007. General Motors car sales in February were down 1%.
Newmont Mining Corp. shares gained 2.3% amid reports of Indonesia’s possible plan to reduce its export tax on mineral concentrates for some mining companies that produce metal from the ore in the country.
Darden Restaurants shares fell 3.5% after the restaurant chain on Monday offered downbeat guidance for its fiscal third quarter, citing the impact of severe winter weather on sales and costs.
The flight to safety pushed the yield on the 10-year U.S. Treasury lower by 1.4%, or 4 basis points, to 2.612%. April gold jumped $25.30, or 2%, to $1,347 an ounce, a level not seen since October for a front-running contract, according to FactSet Research. Crude oil for April delivery jumped $2.30, or 2.2%, to $104.86 a barrel, levels not seen since September, according to FactSet Research.
The S&P 500 index was down 15.70 points, or 0.8%, at 1,844.08, after scoring its 48th record close for the past year on Friday. All 10 main sectors were trading lower.The Dow Jones Industrial Average fell 159 points, or 1%, to 16,162.58.The Nasdaq Composite was 42.40 points, or 1%, lower at 4,265.47.
As escalating military tensions in Ukraine dominated news on Monday, better-than-expected economic reports did little to provide relief from broad-based selling.
The Markets fear of a possible military action in Ukraine and its impact on Europe is driving the markets today.
Consumers boosted spending in January, but a good chunk of the money went to pay higher utility bills during an unusually cold winter, according to government data released Monday.
The final reading of Markit’s U.S. purchasing managers index accelerated in February, the economic information firm said Monday. The final reading for February was the highest level in almost four years. The report shows that output and new business picked up sharply.
U.S. manufacturers expanded in February at a somewhat faster pace, according to the closely followed ISM index.
Shares in Ford Motor Co fell 1.4%, while shares in General Motors were mostly unchanged after the release of February auto sales reports.
Chrysler Group LLC, a U.S. subsidiary of Italy-based Fiat SpA, said Monday that its U.S. sales in February increased 11% from a year earlier and topped estimates. Chrysler’s growth marks its best February since 2007. General Motors car sales in February were down 1%.
Newmont Mining Corp. shares gained 2.3% amid reports of Indonesia’s possible plan to reduce its export tax on mineral concentrates for some mining companies that produce metal from the ore in the country.
Darden Restaurants shares fell 3.5% after the restaurant chain on Monday offered downbeat guidance for its fiscal third quarter, citing the impact of severe winter weather on sales and costs.
The flight to safety pushed the yield on the 10-year U.S. Treasury lower by 1.4%, or 4 basis points, to 2.612%. April gold jumped $25.30, or 2%, to $1,347 an ounce, a level not seen since October for a front-running contract, according to FactSet Research. Crude oil for April delivery jumped $2.30, or 2.2%, to $104.86 a barrel, levels not seen since September, according to FactSet Research.