U.S. Stocks Plunge Due to Ukraine Conflict Fears

Wall Street closed sharply lower on Friday for the second consecutive session as investors felt concern over escalating tensions between Russia and Ukraine. Most of the eleven major sector indices of the S&P 500 declined, led by the technology sector. The energy sector rose as oil prices reached their highest level in seven years. Shares of Apple, Amazon, Nvidia, and Microsoft fell, contributing more to the decline of the S&P 500 than any other sectors. According to preliminary data, the S&P 500 index dropped by 85.76 points, or 1.90%, ending at 4418.32 points, while the Nasdaq composite lost 400.02 points, or 2.83%, to 13784.13 points. The Dow Jones Industrial Average fell by 510.12 points, or 1.45%, to 34731.47 points.