Dow sinks 300+ points, oil eases from $ 120 level

US stocks fell across the board Monday as investors traded cautiously with oil prices hitting the highest levels since 2008 as the Russia, Ukraine conflict continues to dictate the market’s direction.

The Dow Jones Industrial Average fell over 300 points or 1%, while the S&P 500 and Nasdaq Composite fell 0.8% and 0.6%.

RUSSIA INVADES UKRAINE: LIVE UPDATES

Ticker Security Cargo Change Change%
I: DJI DOW JONES AVERAGES 33278.68 -336.12 -1.00%
SP500 S&P 500 4293.3 -35.57 -0.82%
I: COMP NASDAQ COMPOSITE INDEX 13248.05927 -65.38 -0.49%

US crude eased to around $ 116 per barrel, after nearing $ 130.

COMMODITIES HAVE BEST WEEK ON RECORD

Ticker Security Cargo Change Change%
USO UNITED STATES OIL FUND LP 79.46 +4.93 + 6.61%
BNO UNITED STS BRENT OIL FD LP UNIT 32.77 +2.10 + 6.85%

OIL TRADERS EYE $ 200 PER BARREL THIS MONTH: REPORT

That pushed the average price for gasoline in the US above $ 4 a gallon. The all-time high for average gasoline prices was set July 17, 2008, at $ 4.10 per gallon.

In stocks, Bed Bath & Beyond shares surged over 60% after Ryan Cohen, chairman of GameStop and founder of Chewey, took a stake in the home retailer and detailed plans for a turnaround criticizing CEO Mark Tritton.

Ticker Security Cargo Change Change%
BBBY BED BATH & BEYOND INC. 26.34 +10.16 + 62.79%

Kohl’s, another retailer under target from activists, refreshed its strategy at its investor day with plans to grow Sephora into a $ 2 billion business across nearly 900 stores, additionally, it rolled out targets for “low-single digits percent sales growth and mid-to -high single digits percent EPS growth “the company detailed.

Ticker Security Cargo Change Change%
KSS KOHL’S CORP. 58.77 -0.22 -0.37%

Uber also in focus after the ride-sharing company boosted its outlook and now expects to earn between $ 130 million and $ 150 million, up from $ 100 million to $ 130 million.

Ticker Security Cargo Change Change%
UBER UBER TECHNOLOGIES INC. 31.54 +1.71 + 5.72%
LIFT LIFT INC. 37.29 +2.01 + 5.70%

“Mobility demand improved significantly through the month of February, with trips 90% recovered and Gross Bookings 95% recovered vs. February 2019. Additionally, Delivery annualized run rate Gross Bookings reached an all-time high in February” the company disclosed in an SEC Filing.

APPLE TEASES ONLINE EVENT IN MARCH

Ticker Security Cargo Change Change%
AAPL APPLE INC. 163.17 -3.06 -1.84%

Investors will keep a close eye on Apple ahead of its event tomorrow. The early buzz is the tech giant will be rolling out a cheaper iPhone for 5G.

SHELL PROMISES PROFITS FROM TRADING RUSSIAN OIL WILL GO TO CHARITY

In cryptocurrencies, Bitcoin fell to the $ 38,000 level.

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The Associated Press contributed to this report.

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