On February 17, U.S. stocks slid with the S&P 500 denoting its greatest everyday rate drop in about fourteen days, as investors moved to guarded areas and safe havens, for example, bonds and gold as international pressures among Washington and Russia over Ukraine erupted.

After Ukrainian forces and pro-Moscow rebels exchanged fire eastern Ukraine, U.S. President Joe Biden said there was each sign Russia was intending to attack in the following not many days and was setting up a pretext to legitimize it.

Russia blamed Biden for stirring up pressures and delivered an emphatic letter saying Washington was disregarding its security requests and threatening unknown "military-technical measures".

On Wall Street, the development-oriented technology and communication services areas were among the hardest hit. Financials likewise declined as U.S. Treasury yields moved lower.

Advancements in Ukraine have added to vulnerability about the way the Federal Reserve's fixing intends to battle inflation.

Managing director, equity trading at Wedbush Securities in Los Angeles, Michael James said, "There's a lot of nervousness out there and as we approach the weekend nothing’s been settled between Russia and Ukraine."

"The continued weakness, especially in the growth names, is indicative of elevated nervousness and sellers continuing to swamp buyers in just about every stock," he added.

Reports of firing in a line area and allegations that Moscow is organizing a false flag activity, or an aim to nail the fault for the beginning struggle to Ukrainian powers, "has ratcheted up tensions and led to more investors seeking less risky positions," stated Susannah Streeter, senior Investment and markets analyst for U.K.-based, asset management firm, Hargreaves Lansdown, in an email.

The Dow Jones Industrial Average fell 622.24 points, or 1.78%, to 34,312.03, the S&P 500 lost 94.75 points, or 2.12%, to 4,380.26 and the Nasdaq Composite dropped 407.38 points, or 2.88%, to 13,716.72.

As hazard avoidance pushed bond yields lower, top banks including JPMorgan Chase, Morgan Stanley, and Bank of America all lost ground. Goldman Sachs and Wells Fargo fell even after positive perspectives from the lenders.

Joyashree Dey

CBW - External Analyst

INDIA