The S&P 500 Index ($SPX) (SPY) today is down -0.50%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.81%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.40%.
Stocks are retreating today, with the Dow Jones Industrials falling to a 1-1/2 week low. Escalation of the Ukraine-Russian war has sparked risk-off sentiment in equity markets and liquidation of stocks. Markets were rattled today by a report that Ukraine forces reportedly carried out their first missile strikes on a border region in Russia using Wester-supplied missiles. Also, Russian President Putin approved an updated nuclear doctrine that expands the conditions for Russia to use atomic weapons, including in response to a conventional attack on its soil. The ramped-up war risks have fueled flight to safety into government bonds, knocking the 10-year T-note yield to a 1-week low and increasing safe-haven demand for gold, pushing gold prices to a 1-week high.
