U.S. stock indexes fell Friday and notched a second consecutive losing week as the Russia-Ukraine conflict put investors on edge.
The Dow Jones Industrials thundered lower 232.85 points to 34,085.47, following the index’s worst day since the end of November.
The S&P 500 sagged 31.39 points to 4,348.87.
The NASDAQ stumbled 168.658 points, or 1.2%, to 13,548.07.
The indexes each lost more than 1% this week.
Friday was particularly volatile with trillions of dollars in options and futures on stocks, indexes and ETFs set to expire. Option expiration days, which generally occur on the third Friday of the month, can cause the market to swing in a wide range as these positions are closed out.
Stocks have struggled this week as investors continue to be on edge about the ongoing tensions between Russia and Ukraine. The Ukrainian government and Russian state-controlled media on Friday exchanged fresh accusations of cease-fire violations at the border.
Ukraine on Thursday accused pro-Russian separatists of attacking a village near the border. In the U.S., meanwhile, Secretary of State Antony Blinken spoke to the United Nations and warned that the situation is at a “moment of peril.”
President Joe Biden is reportedly expected to move more U.S. troops closer to Ukraine. The Ukrainian government and Russian state-controlled media on Friday exchanged fresh accusations of cease-fire violations at the border.
Energy stocks eased. Schlumberger lost 2.2% and Devon Energy was nearly 1% lower.
Intel was the biggest laggard on the Dow, down 5.3%. Bank of America reiterated an underperform rating on the stock.
Roku shares dropped 22.3% after the video-streaming company reported a revenue miss and issued weaker-than-expected guidance.
Prices for 10-year Treasurys gained, weighing yields to 1.92%, from Thursday’s 1.97%. Treasury prices and yields move in opposite directions.
Oil prices fell a dime to $91.66 U.S. a barrel.
Gold prices slid $2.90 to $1,899.10 U.S. an ounce.