Sharp Decline in U.S. Markets at Opening: Nasdaq Drops Over 3%

U.S. stock futures saw a sharp decline at the market opening today, continuing the downturn observed in pre-market trading, which set the stage for significant opening losses in major indexes. Following Russia's comprehensive invasion of Ukraine, stock markets worldwide retreated, while oil prices surged above $100 per barrel, and gold and government bonds rose as safe-haven assets. The Nasdaq 100 fell into a bear market for the first time since the pandemic, as investors moved away from risky assets following Russia's invasion of Ukraine. The tech index dropped by 3.3% by 9:31 AM in New York, pushing it into bear market territory, defined as a decline of 20% or more from a recent peak. In early trading, the Dow Jones dropped by 2.30%, while the broader S&P 500 decreased by 2.32%, driving the benchmark index into deeper correction. Among the notable companies driving the Nasdaq 100, Apple shares fell by 4.6%, Microsoft by 2.9%, Amazon by 3.2%, and Alphabet, the parent company of Google, by 2.6%, while Meta's shares declined by 2.3%. It is worth noting that the Nasdaq 100 finished Wednesday down 18.5% from its record close in November.