Dow ends down 500 points as U.S. says Russia invasion of Ukraine could happen ‘any day now’

Stocks ended sharply lower Friday after White House National Security Adviser Jake Sullivan warned that a Russian invasion of Ukraine could happen “any day now.” The Dow Jones Industrial Average fell 504 points, or 1.4%, to close near 34,737, according to preliminary figures, while the S&P 500 dropped around 86 points, or 1.9%, ending near 4,418. The Nasdaq Composite shed around 394 points, or 2.8%, to finish near 13,791. The warning on Ukraine lifted oil futures and provided support for traditional safe havens, including gold and Treasurys. The fall left major benchmarks lower on the week, with the Dow suffering a 1% weekly decline, the S&P 500 down 1.8% and the Nasdaq off 2.2%. The Ukraine jitters come as investors were wrangling with concerns about how aggressive the Federal Reserve will be in moving to rein in inflation after data on Thursday showed U.S. consumer prices rose at a hotter-than-expected 7.5% year-over-year pace in January.

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