Nasdaq wins, Dow falls 179 points, S&P little changed in Russia-led session

US stocks unfolded in another see-saw session that ended mixed as investors weighed Russia’s latest invasion of Ukraine against the extension of US sanctions against Russia’s central bank by freezing all assets held by Americans.

The Nasdaq Composite closed 0.4% higher as Apple and Tesla helped drive gains.

Teleprinter Security Last Change Change %
I: COMP NASDAQ COMPOSITE INDEX 13751.399215 +56.77 +0.41%
TSLA TESLA INC. 870.43 +60.56 +7.48%
AAPL APPLE INC. 165.12 +0.27 +0.16%

RUSSIA-UKRAINE: LIVE UPDATES

The S&P closed slightly lower, while the Dow Jones Industrial Average fell more than 179 points, erasing a decline of more than 400 points, to close down 0.5%.

Teleprinter Security Last Change Change %
Me: DJI DOW JONES AVERAGES 33892.6 -166.15 -0.49%
SP500 S&P500 4373.94 -10.71 -0.24%

INFLATION AND FALSE MONETARY POLICY MEASURES POSE A RISK FOR THE US ECONOMY: NABE

On Monday, the ruble plunged more than 30% after the decision to block Russian banks from the SWIFT payment system. The sanctions include restrictions intended to restrict the Russian central bank’s access to more than $600 billion in reserves and hamper its ability to support the rouble. In response, Russia’s central bank raised its benchmark rate from 9.5% to 20% in a desperate attempt to prop up the ruble’s slide and stave off a run on the banks.

RUSSIA RAISES KEY RATE TO 20%, TELLS COMPANIES TO SELL FX

Russian exchange-traded funds were under pressure.

Teleprinter Security Last Change Change %
RUSL DIREXION EQUITY ETF TRUST DAILY RUSSIA BULL(POST REV 9.56 -1.79 -15.77%
RSX ETF VANECK VECTORS RUSSIA 10.82 -4.83 -30.86%
ERUS ISHARES INC MSCI RUSSIA CAPPED ETF 18.02 -6.98 -27.92%

Additionally, the New York Stock Exchange and the Nasdaq Composite have implemented a temporary trading halt for a handful of Russian companies that trade in the United States. According to an NYSE notice, the listed companies are Mechel PAO, American Depositary Shares – each representing two common shares. – and Mobile TeleSystems Public Joint Stock Company and Cian PLC American Depositary Shares, each representing one ordinary share.

Teleprinter Security Last Change Change %
CIAN CIAN PLC 3.40 +0.09 +2.72%
Montreal MECHEL OAO 2.25 -0.05 -2.17%
MBT MOBILE TELESYSTEMS 5.50 -0.52 -8.64%

On Nasdaq, stocks included are Yandex, known as Russian Google, and online retailer Ozon, as well as Nexters and QIWI and Head Hunter Group.

Teleprinter Security Last Change Change %
YNDX YANDEX S.A. 18.94 -1.38 -6.79%
ozon OZON HOLDINGS PLC 11:60 a.m. -1.03 -8.16%
GDEV NEXT 6.38 -0.12 -1.85%
QIWI QIWI-API 5.67 +0.51 +9.88%
HRH HEADHUNTER GROUP PLC 15.03 +0.04 +0.27%

Oil prices surged on Monday, with benchmark U.S. crude approaching $95.72 a barrel in electronic trading on the New York Mercantile Exchange. Brent Crude Oil closed at $100.99.

Teleprinter Security Last Change Change %
USO US OIL FUND LP 67.48 +1.68 +2.55%
BNO UNITED STS BRENT OIL FD LP UNIT 27.16 +0.88 +3.35%

And gold soared above $1,900 before falling back to $1,899.40 an ounce as investors turned to safer assets amid volatility hitting US stocks.

Teleprinter Security Last Change Change %
GLD SPDR GOLD SHARES TRUST – EUR ACC 178.38 +1.83 +1.04%

British Petroleum on Sunday confirmed it would quit its stake in Russian energy company Rosneft – the latest private severance of relations with Russia as the world superpower invades neighboring Ukraine. BP, which has held a 19.75% stake in Rosneft since 2013, also announced that its chief executive, Bernard Looney, will step down from the Russian company’s board, effective immediately. Bob Dudley, a former BP executive, will also resign from Rosneft’s board.

Teleprinter Security Last Change Change %
BP API BP 29.21 -1.52 -4.95%
SHEL SHELL-API 52.41 -1.83 -3.37%

Late Monday, Shell joined the movement by announcing it would exit its joint venture with GazProm, including its support for the Nord Stream 2 gas pipeline.

Airlines have come under fire over fears Russia’s escalation in Ukraine could jeopardize travel.

Teleprinter Security Last Change Change %
DAL DELTA AIR LINES INC. 39.92 -1.62 -3.91%
AAL AMERICAN AIRLINES GROUP INC. 5:25 p.m. -0.21 -1.20%
LAU UNITED AIRLINES HOLDINGS INC. 44.40 -1.45 -3.16%

Defense stocks rose as Germany announced plans to raise military spending to 2% of production.

Teleprinter Security Last Change Change %
LMT LOCKHEED MARTIN CORP. 433.84 +27.15 +6.68%
NOC NORTHROP GRUMMAN CORP. 442.22 +32.49 +7.93%
RTX RAYTHEON TECHNOLOGIES CORP. 102.7 +4.55 +4.64%

In earnings news Monday, Lordstown Motors, Nielsen, Party City and Tegna before the market open and SmileDirectClub, Workday and Zoom Video Communications after the bell.

Teleprinter Security Last Change Change %
TO DRIVE LORDSTOWN ENGINES 2.57 -0.64 -19.94%
NLSN NIELSEN HOLDINGS PLC 5:41 p.m. -0.16 -0.91%
PRTY PARTY CITY HOLDCO INC. 4.33 -0.06 -1.37%
TGNA TEGNA INC. 22.92 +0.21 +0.92%
SDC SMILEDIRECTCLUB INC. 2.19 -0.02 -0.91%
WDAY WORKDAY INC. 229.05 +3.82 +1.70%
ZM ZOOM VIDEO COMMUNICATIONS INC. 132.60 +7.28 +5.81%

GERMANY E.ON REJECTS NORTH STREAM 1 PIPELINE JUDGMENT – PAPER

In cryptocurrencies, Bitcoin hovered around the $38,000 level before rising above the $40,000 level as stocks recouped some of their losses.

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The Associated Press contributed to this report.

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