NEW YORK: Wall Street shares retreated on Thursday as investors monitored the worsening toll of the Russian invasion of Ukraine amid concerns over higher oil prices.
Hopes for an early end of war fade as French president Emmanuel Macron He said he feared “the worst is about to come” after talks with the Russian president Vladimir Putin,
Russian forces captured the Black Sea port of Kherson in southern Ukraine, the first major city to fall after several setbacks for Moscow. They also besieged the besieged port city of Mariupol, which is without water or electricity.
“It sounds like more growth,” said Art Hogan, chief strategist at National Securities, adding that investors are upset by rising oil prices on concerns about the stability of Russian crude production.
“The longer you stay at higher levels, the more pressure there will be on the global economy,” Hogan said.
The Dow Jones Industrial Average fell 0.3 per cent to end at 33,794.66.
The broad-based S&P 500 lost 0.5 percent to 4,363.49, while the tech-rich Nasdaq Composite The index fell 1.6 percent to 13,537.94 after a major drop in Amazon Tesla,
A survey by the Institute for Supply Management showed growth slowing in the services sector as rising prices and labor and material shortages disrupted businesses.
The report comes ahead of closely watched government jobs data on Friday.
Among individual stocks, Kroger rose 11.6 percent as the grocery chain posted better-than-expected profits of $33 billion after a 7.5 percent jump in quarterly revenue.
Best Buy jumped 9.2 percent when the appliance retailer announced a 26 percent increase in its investor dividend, news that offset the decline in quarterly earnings.
Hopes for an early end of war fade as French president Emmanuel Macron He said he feared “the worst is about to come” after talks with the Russian president Vladimir Putin,
Russian forces captured the Black Sea port of Kherson in southern Ukraine, the first major city to fall after several setbacks for Moscow. They also besieged the besieged port city of Mariupol, which is without water or electricity.
“It sounds like more growth,” said Art Hogan, chief strategist at National Securities, adding that investors are upset by rising oil prices on concerns about the stability of Russian crude production.
“The longer you stay at higher levels, the more pressure there will be on the global economy,” Hogan said.
The Dow Jones Industrial Average fell 0.3 per cent to end at 33,794.66.
The broad-based S&P 500 lost 0.5 percent to 4,363.49, while the tech-rich Nasdaq Composite The index fell 1.6 percent to 13,537.94 after a major drop in Amazon Tesla,
A survey by the Institute for Supply Management showed growth slowing in the services sector as rising prices and labor and material shortages disrupted businesses.
The report comes ahead of closely watched government jobs data on Friday.
Among individual stocks, Kroger rose 11.6 percent as the grocery chain posted better-than-expected profits of $33 billion after a 7.5 percent jump in quarterly revenue.
Best Buy jumped 9.2 percent when the appliance retailer announced a 26 percent increase in its investor dividend, news that offset the decline in quarterly earnings.