Market Tanked on Ukraine Tension, Polish Minister Warns of Invasion

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Market Tanked on Ukraine Tension, Polish Minister Warns of Invasion

Market Tanked on Ukraine Tension, Polish Minister Warns of Invasion
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Market Tanked on Ukraine Tension, Polish Minister Warns of Invasion

by TheStreet 1:18 mins

U.S. market sold off again on Tuesday on geopolitical tension between Russia and Ukraine. The Dow lost 140 points and hit the lowest level since May. The S&P lost 19 points and the Nasdaq lost 31 points. Polish Foreign Minister Radoslaw Sikorski said on Tuesday that Russia is gathering military forces at the Ukrainian border. The Kremlin is likely to either pressure Ukraine or invade it. In the marketplace, people became risk averse. The U.S. Treasury, consequently, gained attraction and the 10-year yield is falling below 2.50%. International uncertainties are shadowing the good data from within the U.S. ISM non-manufacturing index jumped to 58.7 in July, which is the highest since December 2005. New orders rose to 64.9, the highest level since August 2005. Those are reasons to celebrate because China's service PMI just fell to a record low and similar indexes in Europe showed little positive signal.

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