The situation between Ukraine and Russia remains shaky, to say the least, with hopes of a potential deal between the two countries dashed after Russia continued its attacks on Ukraine, despite promises to ease up military activity near the capital. The move had oil prices and energy stocks surging, but put a damper on the equities market, sending the Dow down 65 points to its first daily drop in five sessions. The S&P 500 also logged a notable loss, while the Nasdaq shed more than 1%, as the semiconductor sector showed weakness.
The Dow Jones Average (DJI - 35,228.81) lost 65.4 points or 0.2% for the day. UnitedHealth Group (UNH) led the gainers with a 2% gain, while Home Depot (HD) paced laggards with a 2.9% drop.
The S&P 500 Index (SPX - 4,602.45) shed 29.2 points for the day, or 0.6%, while the Nasdaq Composite (IXIC - 14,442.28) fell 177.4 points, or 1.2% in today's session.
Lastly, the Cboe Market Volatility Index (VIX - 19.33) added 0.4 points or 2.3% for the day, snapping a four-day win streak.
GOLD SNAPS LOSING STREAK
Russia going back on its promises to ease up military action around Ukraine's capital sent oil prices higher on Wednesday. May oil shed $3.58 or 3.4%, to settle at $107.82.
Gold prices snapped their three-day losing streak as investors cycled out of equities and back into the haven commodity amid renewed uncertainties over the future of the conflict between Ukraine and Russia. The now most active, June-dated gold contract rose $21 or 1.1%, to close at $1,939.00 per ounce .
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