Markets slide as tensions rise over Ukraine

STEVE ROTHWELL, AP Markets Writer
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Specialist Gregg Maloney works on the floor of the New York Stock Exchange, March 3, 2014.  (AP Photo/Richard Drew)

Specialist Gregg Maloney works on the floor of the New York Stock Exchange, March 3, 2014. (AP Photo/Richard Drew)

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NEW YORK (AP) — Global stock markets are down sharply on tensions over Russia’s military advance into Ukraine and the threat of sanctions by Western governments.

The Dow Jones industrial average fell 202 points, or 1.2 percent, to 16,118 as of midday Monday.

The Standard & Poor’s 500 index fell 20 points, or 1.1 percent, to 1,839. The S&P 500 closed at a record high Friday.

The Nasdaq composite fell 54 points, or 1.3 percent, to 4,253.

Russia’s benchmark stock index plunged 12 percent. Stocks were also sharply lower in Europe. Germany’s DAX fell the most, 3.4 percent.

Gold and bond prices rose as investors shifted money into safer assets.

The price of crude oil rose 2 percent to $104 a barrel as traders worried about disruptions of Russian oil exports.

 

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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