Stocks declined Thursday as investors eyed the Russia-Ukraine conflict and digested corporate earnings reports.
The Dow Jones Industrials caved 371.05 points, or 1.1%, to 34,567.22
The S&P 500 fell 50.69 points, or 1.1%, to 4,424.32.
The NASDAQ stumbled 219.68 points, or 1.6%, to 13,904.41.
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.
Investors also digested a slew of corporate earnings reports.
Palantir sunk more than 11% after the company missed profit expectations. Nvidia fell more than 8% despite a better-than-expected earnings report as the chip maker’s first-quarter gross margin guidance came in slightly lower than analysts expected.
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 1.98%, from Wednesday’s 2.03%. Treasury prices and yields move in opposite directions.
Oil prices slipped $1.85 to $91.81 U.S. a barrel.
Gold prices leaped $27.50 to $1,899.00 U.S. an ounce.