Stocks declined Thursday as investors eyed the Russia-Ukraine conflict and digested corporate earnings reports.
The Dow Jones Industrials caved 433.07 points, or 1.2%, to 34,501.20.
The S&P 500 fell 54.37 points, or 1.2%, to 4,420.64.
The NASDAQ stumbled 169.99 points, or 1.2%, to 13,954.11.
The selloff in stocks was broad-based, with financials and technology leading S&P 500 sectors lower.
For the week, the S&P 500 is marginally higher and the NASDAQ Composite is up more than 1%. The Dow is the relative laggard, down slightly on the week.
Walmart topped expectations and reaffirmed guidance, sending its shares up more than 1%. Cisco rose more than 4% after the company also topped estimates and raised guidance. DoorDash saw its shares surge more than 14% after reporting better-than-expected revenue and order numbers.
Ongoing tension at the Russia-Ukraine border continued to impact market sentiment. The U.S. Ambassador to the United Nations said Thursday the conflict had reached a “crucial moment.” Ukraine accused pro-Russian separatists of attacking a village near the border.
On the economic front, weekly jobless claims numbers came in at 248,000, rising from the previous week and above the 218,000 expected, according to a Dow Jones estimate. Housing permits for January showed a surprise increase, but housing starts lagged expectations.
Prices for 10-year Treasurys moved higher, weighing yields to 1.97%, from Wednesday’s 2.03%. Treasury prices and yields move in opposite directions.
Oil prices slipped $1.79 to $91.87 U.S. a barrel.
Gold prices leaped $25.40 to $1,896.90 U.S. an ounce.