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US stocks fall as investors fear long Russia attack – Times of India

NEW YORK: Wall Street stocks retreated Thursday as investors monitored the worsening toll of the Russian invasion of Ukraine amid worries over excessive oil costs.
Hopes for a fast finish to the struggle pale as French President Emmanuel Macron stated he fears the “worst is to come” after a dialog with Russian President Vladimir Putin.
Russian forces took the Black Sea port of Kherson in southern Ukraine, the primary main metropolis to fall after a string of setbacks for Moscow. They additionally pounded the besieged port metropolis of Mariupol, which is with out water or energy.
“It feels like more escalation,” stated Art Hogan, chief strategist at National Securities, including that investors are unnerved by the rise in oil costs over worries in regards to the stability of Russian crude manufacturing.
“The longer you stay at elevated levels the more of a drag there is on the global economy,” Hogan stated.
The Dow Jones Industrial Average dropped 0.3 p.c to 33,794.66.
The broad-primarily based S&P 500 shed 0.5 p.c to 4,363.49, whereas the tech-wealthy Nasdaq Composite Index tumbled 1.6 p.c to 13,537.94 following large drops in Amazon and Tesla.
A survey from the Institute for Supply Management confirmed development within the providers sector slowing as rising costs and shortages of labor and supplies hampered companies.
The report comes forward of Friday’s intently-watched authorities jobs information.
Among particular person stocks, Kroger surged 11.6 p.c as the grocery chain reported higher-than-anticipated earnings following a 7.5 p.c soar in quarterly revenues to $33 billion.
Best Buy jumped 9.2 p.c after the equipment retailer introduced a 26 p.c hike in its investor dividend, information that offset a drop in quarterly earnings.

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