NEW YORK (awp international) – The ongoing war in Ukraine also had a stranglehold on the US stock markets on Tuesday. Despite new Western sanctions, Russia intensified its attacks on its neighbor. Rising energy prices also fueled inflation concerns, especially as the US government says sanctions against Russia’s energy sector are still possible.
The Dow Jones Industrial steadily expanded its moderate initial losses in the course of trading and was last listed 2.02 percent lower at 33,207.56 points. The market-wide S&P 500 fell 1.73 percent to 4298.32 points. The technology-heavy selection index Nasdaq 100 fell by 1.53 percent to 14019.75 points.
With oil prices continuing to rise, shares in oil companies remained in demand. Chevron’s shares at the top of the Dow rose by 2.7 percent. The company had also raised the target range for its annual share buyback target. ConocoPhillips shares advanced 1.3 percent and ExxonMobil rose 0.5 percent.
For the video conferencing service Zoom, the time of explosive growth in the Corona crisis is over, as the latest business figures show. With the waning tailwind from the corona pandemic, the growth rates of the video conferencing service also normalized, wrote analyst Kash Rangan from the investment bank Goldman Sachs. The Zoom titles lost 4.9 percent.
Target’s stock shot up more than 10 percent at the top of the Nasdaq 100 index. The retail chain’s figures for the fourth quarter exceeded analyst estimates./edh/he
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