Dow futures retreat as Russia steps up attack on Ukraine
What’s happening On Monday, the first trading day after Western nations started to block Russian bank access to the SWIFT messaging system, the Dow Jones Industrial Average DJIA, -0.49% fell 166 points, or 0.49%, to 33893, the S&P 500 SPX, -0.24% declined 11 points, or 0.24%, to 4374, while the Nasdaq Composite COMP, +0.41% gained 57 points, or 0.41%, to 13751.
What’s driving markets Russia on Tuesday stepped up its shelling of Kharkiv, Ukraine’s second-largest city. There wasn’t any tangible progress made in direct talks between Russia and Ukraine held in Belarus, though the two sides agreed to keep talking. “The choppy back and forth action and large moves are likely going to be the norm until this situation is settled. Also, keep in mind that any settlement is likely to tank the areas of the market that have been outperforming,” said Matthew Tuttle, chief executive and chief investment officre of Tuttle Capital Markets.Besides the Ukraine news, there’s also the key Institute for Supply Management manufacturing index due for release.
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