Stocks fell on Friday despite a stronger-than-expected jobs report as worrisome developments in Ukraine weighed on sentiment.
The Dow Jones Industrials dropped 445.64 points, or 1.3%, to 33,349.02.
The S&P 500 lost 56.75 points to 4,306.74.
The NASDAQ Composite index moved downward 187.47 points, or 1.4%, to 13,350.47.
The decline for stocks followed reports that smoke was visible from a nuclear power plant in Ukraine — the largest in Europe — after Russian troops attacked. Reports Friday morning indicated that Russian forces had seized the plant in Zaporizhzhia. The U.S. embassy in Kyiv called the attack a war crime.
Stocks fell broadly as investors shifted away from risk assets. Financial stocks, which can benefit from higher interest rates, declined, with American Express and JPMorgan Chase falling 2.9%.
The developments in Ukraine appeared to overshadow a stronger-than-expected February jobs report. The economy added 678,000 jobs last month, above the 440,000 expected by economists, according to Dow Jones. The unemployment rate ticked down to 3.8%.
This is the last jobs report before the Federal Reserve’s next meeting, where the central bank is expected to begin hiking interest rates. Fed Chair Jerome Powell said this week that he is leaning toward supporting a single 25-basis point hike in March. A basis point is equal to 0.01%.
Travel stocks were another weak spot on Friday, with shares of United Airlines falling 3.5%. Shares of Delta Air Lines and American Airlines dropped more than 2%.
Energy stocks rose along with oil prices. Occidental Petroleum jumped more than 4%, while Diamondback Energy climbed 1.5%.
Earnings reports drove some positive moves for stocks. Retailer Gap and restaurant chain Sweetgreen both surged after beating expectations. Chipmaker Broadcom rose after outpacing estimates for earnings and revenue.
Prices for the 10-year Treasury soared, lowering yields to 1.74% from Thursday’s 1.85%. Treasury prices and yields move in opposite directions.
Oil prices hiked $4.80 to $112.47.
Gold prices jumped $17.20 to !,953.10.