Stocks on Wall Street shed early gains and closed broadly lower Monday as the U.S. moved to close its embassy in Ukraine amid heightened tensions over the thousands of Russian troops that have been massing on the border.
Stocks on Wall Street shed early gains and closed broadly lower Monday as the U.S. moved toamid heightened tensions over the thousands of Russian troops that have been massing on the border.
“The market is really paying attention to geopolitical stuff right now, whether it’s stuff out of Ukraine or in D.C. with respect to what the Fed is going to do,” said Willie Delwiche, an investment strategist at All Star Charts. “The bigger story is inflation and rates. The Fed is catching up to inflation, the bond market is now taking the Fed seriously and the question is ‘What do U.S.
Smaller-company stocks, which had been on pace for gains, also fell. The Russell 2000 slid 9.36 points, or 0.5%, to 2,020.79. The price of U.S. crude oil climbed 2.5%, while natural gas prices jumped 6.4%. Russia is a major energy producer. Any military action that disrupts supplies could send shock waves through energy markets and global industry.Bond yields also rose. The yield on the 10-year Treasury rose to 1.99% from 1.94% late Friday.rising inflation
While Fed policymakers agree the central bank should begin raising interest rates next month, they differ on how quickly to do so. On Monday, James Bullard, president of the Federal Reserve Bank of St. Louis, repeated his call for the Fed to take the aggressive step of raising its benchmark short-term rate by a full percentage point by July 1. Esther George, president of the Kansas City Fed, expressed support for a more gradual approach.
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