The stock market was down in volatile trading on Tuesday after Russian President Vladimir Putin ordered troops into two separate regions in eastern Ukraine, a move that was met with a new round of sanctions from the West.
The investors are concerned about the tensions between Russia and Ukraine.
The S&P 500 lost 0.4% and the tech-laden Nasdaq was down 0.4% as stocks tanked amid rising tensions between Russia and Ukraine.
Russian President Vladimir Putin ordered Russian troops to move into eastern Ukraine in order to maintain peace after he decided to recognize the independence of the two eastern Ukrainian regions.
The European Union and the United Kingdom both imposed economic sanctions on Russia on Tuesday, while the United States will reportedly release a new round of sanctions later in the day.
The U.K. Health Minister Sajid Javid said on Tuesday that Russian troops moving into eastern Ukraine could be a pretext for a full invasion.
Concerns that Russia's energy exports could be disrupted caused oil prices to rise to more than $94 per barrel.
Macy's gained 8% after reporting strong results, while Home Depot fell over 5.5% after earnings, as investors digest a slew of corporate earnings.
According to a recent note from Tom Essaye, founder of Sevens Report, the Russia/Ukraine situation remains very fluid, and tensions remain high, and will remain a drag on stocks in the short term.
The Federal Reserve should not be distracted by the conflict in Ukraine and the market decline that followed it, according to Wharton finance professor Jeremy Siegel.
Markets have been weighed down by Russia-Ukraine tensions, with the major averages posting back-to-back weekly losses. The S&P 500 lost 1.6% last week, while the Dow fell 1.9%.
The stock market fell for the second week in a row.
Experts say that the Federal Reserve is scrambling to fight inflation.
The stock market fell 600 points as Russia-Ukraine tensions reached a critical moment.
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