In New York, where investors returned after a long weekend, the stock markets started with a loss on Tuesday. As in Europe and Asia, stock market trading on Wall Street continued to be gripped by Ukraine’s mounting tensions.
The European Union, the United Kingdom and the United States have announced sanctions against Russia following Moscow’s recognition of separatist regions in eastern Ukraine as independent states. The threat of a Russian invasion of Ukraine has gripped stock markets for weeks and propelled oil prices.
Shortly after opening, the Dow-Jones index was 0.9 percent lower at 33,771 points. The broad S&P 500 fell 0.7 percent to 4318 points, and tech gauge Nasdaq lost 0.9 percent to 13,431 points. Stock markets were closed on Monday for President’s Day celebrations.
The annual earnings season on Wall Street is essentially over. Of the more than 400 S&P 500 that released figures, about 78 percent beat analysts’ expectations, data from data provider FactSet shows.
The retailers Home Depot and Macy’s still came up with figures. Home Depot was down 5 percent despite better-than-expected results and a dividend increase. The do-it-yourself group also expects further growth in turnover and profit for the current financial year.
Department store chain Macy’s performed better than expected and was rewarded with a price gain of 5.6 percent. As activist shareholder Jana Partners had previously demanded, the company also said it would not split its online business from its stores. In addition, the company will buy back 2 billion dollars in its shares.
Oil producers ExxonMobil and Chevron rose 1.1 and 0.9 percent on the back of rising oil prices. The fear that a further escalation of the conflict in Ukraine could affect Russian oil supplies, pushing the oil price further towards 100 dollars a barrel.
Houghton Mifflin Harcourt jumped almost 15 percent. The publisher of educational materials has reached an agreement on a takeover by the private investor Veritas Capital for about 2.8 billion dollars, or 2.5 billion euros.
The price for a barrel of American oil rose by 3.3 percent to $ 94.05. Brent oil climbed 2.4 percent to $97.69 a barrel. The euro was worth $1.1340, compared to $1.1338 a day earlier.
