Dow flirts with correction as S&P falls deeper into its own

US stocks closed at the lows of the session as investors monitor the situation between Russia and Ukraine and amid reports Ukraine was the target of a massive cyberattack and with new US sanctions against the Nord Stream 2 pipeline.

Ticker Security Last Change Change%
I: DJI DOW JONES AVERAGES 33131.76 -464.85 -1.38%
SP500 S&P 500 4225.5 -79.26 -1.84%
I: COMP NASDAQ COMPOSITE INDEX 13037.487327 -344.03 -2.57%

The Dow Jones Industrial Average fell 464 points or 1.4% just shy of correction territory, while the S&P 500 fell 1.8% deeper into its and the Nasdaq Composite lost 2.6% as large-cap tech tumbled.

Ticker Security Last Change Change%
AAPL APPLE INC. 160.07 -4.25 -2.59%
AMZN AMAZON.COM INC. 2,896.54 -107.41 -3.58%
MSFT MICROSOFT CORP. 280.27 -7.45 -2.59%

Earlier, Ukrainian citizens were ordered to leave Russia following US and UK sanctions lobbed on Russia Tuesday.

BIDEN ADMINISTRATION DETAILS FURTHER US SANCTIONS AGAINST RUSSIA

Oil prices stabilized, as did natural gas, despite concerns about possible disruption to Russian supplies. US crude lofted around $ 92 per barrel, while Brent, the global benchmark, sat at the $ 97 level.

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Ticker Security Last Change Change%
USE UNITED STATES OIL FUND LP 66.24 +0.70 + 1.07%
A G UNITED STATES NATURAL GAS FUND LP UNIT (POST REV SPLIT) 16.12 +0.45 + 2.87%

In earnings, shares of home improvement retailer Lowe’s rose after lifting its 2022 fiscal outlook. Rival Home Depot may also be active after Tuesday’s drop prompted by a warning over supply-chain issues in its quarterly earnings call.

Ticker Security Last Change Change%
LOW LOWE’S COS. INC. 215.22 +0.62 + 0.29%
HD THE HOME DEPOT INC. 308.50 -7.65 -2.42%

In other retail results, TJX, parent to Marshalls, Home Goods and TJMaxx, reported sales and profits that fell short of Wall Street estimates, mired by supply-chain issues.

Ticker Security Last Change Change%
TJX THE TJX COS. INC. 62.49 -2.72 -4.17%

Virgin Galactic shares moved higher after narrowing quarterly losses to $ 81 million compared to a loss of $ 104 million.

Ticker Security Last Change Change%
SPCE VIRGIN GALACTIC HOLDINGS INC. 8.08 +0.27 + 3.46%

After the bell watch for results from Hertz and eBay.

Ticker Security Last Change Change%
HTZ HERTZ GLOBAL 17.19 -0.77 -4.29%
EBAY EBAY INC. 54.59 -0.56 -1.02%

In deal news, automotive parts maker Tenneco is being taken private by funds managed by affiliates of private equity firm Apollo in an all-cash deal valued at about $ 7.1 billion. Shares jumped.

Ticker Security Last Change Change%
TEN TENNECO INC. 19.36 +9.38 + 93.89%

The transaction includes the assumption of Tenneco’s debt. Apollo will pay $ 20 for Tenneco Inc. share, double from Tenneco’s closing price Tuesday of $ 9.98.

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In cryptocurrencies, Bitcoin traded around $ 38,000.

FOX Business’ Ken Martin and The Associated Press contributed to this report.

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