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Russia Ukraine Conflict: US stocks open lower as market assesses sanction toll

About 15 minutes into trading, the Dow Jones Industrial Average was down 1.2 percent at 33,657.92. The broad-based S&P 500 dropped one percent to 4,340.69, while the tech-rich Nasdaq Composite Index shed 0.9 percent to 13,574.60.

February 28, 2022 / 08:33 PM IST
Wall Street | Representative image.

Wall Street | Representative image.

Wall Street stocks opened lower Monday, joining a selloff that began on European bourses as the latest wave of western sanctions targeting Russia added to worries about inflation.

The United States over the weekend announced punishing sanctions on Russia that touched on its central bank and the ability of some financial institutions to access the SWIFT financial messaging system.

ALSO READ: Wall Street rallies as West hits Russia with new sanctions

As trading began in New York, investors retreated from riskier assets while seeking out precious metals, Treasury bonds and other safe-haven investments.