Stocks finished the last day of February mixed. The Dow fell 166 points to register its second-straight monthly loss. The S&P 500 was lower as well, while the Nasdaq managed to score a modest win, though both also logged a second consecutive month in the red. Russia's invasion of Ukraine continued to weigh on Wall Street, with the U.S. moving to stop several large Russian banks from using the interbank messaging system SWIFT, as investors kept an eye on talks between Russian and Ukrainian officials near Belarus border today.
In other news, the CBOE Volatility Index (VIX) recorded its second-straight monthly win. Additionally, the 10-year U.S. Treasury yield plummeted, and the U.S. trade deficit surged to a record high for the second straight month in January.
The Dow Jones Average (DJI - 33,892.60) fell 166.2 points, or 0.5% for the day, and 3.5% for the month. Chevron (CVX) led the gainers with a 2.6% jump, while JPMorgan Chase (JPM) paced the laggards with a 4.2% drop.
The S&P 500 Index (SPX - 4,373.94) shed 10.7 points, or 0.2% for the day, and 3.1% for the month. Meanwhile, the Nasdaq Composite (IXIC - 13,751.40) gained 56.8 points, or 0.4% for today's session, and 3.1% for the month.
Lastly, the Cboe Market Volatility Index (VIX - 30.15) added 2.6 points, or 9.3% for the day, and 21.4% for the month.
OIL PRICES SCORE THIRD-STRAIGHT MONTHLY WIN
Oil prices settled higher on Monday to score another seven-year high, as well as their third-straight monthly win. Investors are still concerned that Russia's invasion of Ukraine could lead to disruptions, as sanctions weigh. They also eyed Wednesday's meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), which will determine April production levels. April-dated crude rose $4.13 , or 4.5%, to settle at $95.72 per barrel for the day, and jumped 8.6% for the month.
Gold prices were also higher, as investors continued to rush the safe-haven commodity amid Russia's invasion of Ukraine. The yellow metal also nabbed a 5.8% monthly win. For the day, April-dated gold added $13.10, or 0.7%, to finish at $1,900.70 per ounce.
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