Stocks Close Well Off Day’s Lows While Bonds Climb: Markets Wrap
- Putin retaliates as sanctions for Ukraine invasion swell
- Russian equities, bonds face risk of ejection from indexes
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Stocks almost wiped out their losses, while bonds rose as traders assessed the latest developments after a wall of sanctions against Russia for the invasion of Ukraine.
The S&P 500 trimmed a drop that reached 1.6% earlier in the day, while still notching its second month of declines -- the longest losing streak since October 2020. The technology-heavy Nasdaq 100 finished higher on Monday. In late trading, Zoom Video Communications Inc. tumbled after the remote-conferencing giant projected sales that fell short of Wall Street’s estimates.