US stocks fall as investors brace for war in Ukraine amid new warnings of imminent invasion
- US stocks closed down Friday on fresh signs the Russia-Ukraine crisis may devolve into war.
- US officials said a Russian invasion of Ukraine could come within days, while more US troops are headed to Hungary.
US stocks dropped Friday on fresh signs the Russia-Ukraine crisis may be headed for war in the coming days, despite last-minute efforts at diplomacy.
Shelling intensified around the disputed areas of eastern Ukraine, and US officials told the Wall Street Journal that they expect a Russian attack in the next few days.
Earlier Friday, US Secretary of State Antony Blinken said more Russian troops are headed to the Ukraine border. And the US ambassador to the Organization for Security and Co-operation in Europe estimated that Russia has 169,000-190,000 personnel near Ukraine, up from 100,000 at the end of January.
Meanwhile, defense officials told NBC News that 200 US soldiers with Stryker armored fighting vehicles will deploy to Hungary, adding to earlier troop movements to bolster NATO allies in Eastern Europe.
Here's where US indexes stood as the market closed at 4 p.m. on Friday:
- S&P 500: 4,348.97, down 0.71%
- Dow Jones Industrial Average: 34,079.12, down 0.68% (168.65 points)
- Nasdaq Composite: 13,548.07, down 1.23%
Major indexes initially rallied in premarket trading after Russian Foreign Minister Sergei Lavrov agreed to meet Blinken next week to discuss the crisis. Russian President Vladimir Putin also said he isn't against talks with the US.
On Thursday, President Biden said a Russian invasion of Ukraine was likely imminent. Moscow had claimed earlier this week that it pulled back some troops.
Analysts at RBC Capital Markets warned investors are underestimating the threat of a war in Europe, saying a Russian invasion of Ukraine could hammer stocks in similar fashion to the two Iraq wars or the US-China trade war of 2018.
Roku stock plunged more than 20% after giving weak guidance for the current quarter and reporting a fourth-quarter revenue miss.
Nu Holdings extended its week-long gains to as much as 36% on Friday after Warren Buffett's Berkshire Hathaway disclosed an investment in the Brazilian bank in a filing late Monday.
Virgin Galactic stock fell after the space tourism company announced billionaire investor Chamath Palihapitiya stepped down chairman and board member.
US oil prices continued their decline and notched their first weekly loss in nine weeks. On Friday, West Texas Intermediate crude settled down 0.7% at $91.01 per barrel. A potential deal to reboot Tehran's 2015 nuclear agreement with world powers has raised the prospect of increased Iranian crude exports.
But Brent crude, the international benchmark, reversed earlier losses to trade up 0.7% at $93.63.
Gold dipped 0.25% to $1,8.97.30 per ounce. The 10-year yield fell 5 basis points to 1.925%.
Bitcoin slipped 1.85% to $40,236.66.