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2022-03-02

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Wall Street Ends Sharply Lower as Ukraine Crisis Sows Fear

March 1 (Reuters) - Wall Street ended sharply lower on Tuesday, with financial stocks bearing much o

Wall Street Ends Sharply Lower as Ukraine Crisis Sows Fear

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Volume on U.S. exchanges was 14.9 billion shares, compared with a 12.3 billion average for the full session over the last 20 trading days.</p><p>On a positive note, data showed U.S. manufacturing activity picked up more than expected in February as COVID-19 infections subsided, while construction spending surged in January.</p><p>&#34;Given the fact that the U.S. economy is accelerating, the uncertainty will be relatively short lived and it wouldn&#39;t be a surprise if the market found its footing sometime over the next couple of weeks when clarity is restored,&#34; said Jeff Schulze, investment strategist at ClearBridge Investments.</p><p>Target Corp jumped 9.9% after the big-box retailer forecast 2022 sales and profit above analysts&#39; expectations.</p><p>Defense stocks added to recent gains, with Lockheed Martin Corp and Northrop Grumman rallying over 3%.</p><p>The CBOE volatility index, also known as Wall Street&#39;s fear gauge, rose to its highest since Feb. 24.</p><p>Zoom Video Communications Inc slid 7.4% after it forecast downbeat full-year revenue and profit, signaling a hit from tough competition and lower sign-ups for its core Meetings platform.</p><p>The S&amp;P 500 has declined about 10% in 2022, and the Nasdaq has lost about 13%.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 1.55-to-1 ratio; 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Volume on U.S. exchanges was 14.9 billion shares, compared with a 12.3 billion average for the full session over the last 20 trading days.On a positive note, data showed U.S. manufacturing activity picked up more than expected in February as COVID-19 infections subsided, while construction spending surged in January.\"Given the fact that the U.S. economy is accelerating, the uncertainty will be relatively short lived and it wouldn't be a surprise if the market found its footing sometime over the next couple of weeks when clarity is restored,\" said Jeff Schulze, investment strategist at ClearBridge Investments.Target Corp jumped 9.9% after the big-box retailer forecast 2022 sales and profit above analysts' expectations.Defense stocks added to recent gains, with Lockheed Martin Corp and Northrop Grumman rallying over 3%.The CBOE volatility index, also known as Wall Street's fear gauge, rose to its highest since Feb. 24.Zoom Video Communications Inc slid 7.4% after it forecast downbeat full-year revenue and profit, signaling a hit from tough competition and lower sign-ups for its core Meetings platform.The S&P 500 has declined about 10% in 2022, and the Nasdaq has lost about 13%.Declining issues outnumbered advancing ones on the NYSE by a 1.55-to-1 ratio; on Nasdaq, a 1.80-to-1 ratio favored decliners.The S&P 500 posted 26 new 52-week highs and 16 new lows; the Nasdaq Composite recorded 40 new highs and 150 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":802,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}

Wall Street Ends Sharply Lower as Ukraine Crisis Sows Fear

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