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S&P 500 Plunges as Russia Reportedly Prepares to Invade Ukraine

Published 02/12/2022, 03:04 AM
© Reuters
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By Yasin Ebrahim

Investing.com - – The S&P 500 plunged Friday, as Russian President Vladimir Putin reportedly gave the go-ahead to military officials to invade Ukraine as early as next week.

The S&P 500 fell 1.5%, the Dow Jones Industrial Average slumped 1.2%, or 420 points, the Nasdaq fell 2.1%.

The U.S. believes Putin has decided to invade Ukraine and communicated those plans to the Russian military, PBS reported Friday. Two administration officials were said to expect the invasion to begin next week.

The report comes just after U.S. Secretary of State Antony Blinken said that Russia beefed up its forces at the border with Ukraine and could launch an invasion at any time, including during the Beijing Winter Olympics.
Investors opted for safety, piling into U.S. bonds pushing yields lower, with the U.S. 10-year yield retreating below 2%.
Defense stocks, meanwhile, including Lockheed Martin (NYSE:LMT), and Northrop Grumman (NYSE:NOC) were higher.

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