US stocks close lower as Ukraine war enters second week

Brent oil nears $120.

US stocks close lower as Ukraine war enters second week

US stocks closed lower Thursday as the war in Ukraine entered its second week, raising risks and uncertainties.

The Dow Jones industrial average fell 96 points, or 0.29%, to close at 33,794. The S&P 500 lost 23 points, or 0.53%, to 4,363.

The Nasdaq decreased 214 points, or 1.56%, to finish at 13,537.

The VIX volatility index, known as the fear index, fell 0.85% to 30.48. The yield on 10-year US Treasury notes lost 0.48% to 1.856%.

The dollar index, on the other hand, increased 0.36% to 97.73.

Precious metals were mixed, with gold adding 0.46% to $1,937 per ounce, but silver shaving 0.3% to $25.22.

As the Ukraine-Russia war drags on, oil prices hit new historical highs before retreating.

Brent crude was trading at $110.28 per barrel, falling 2.3%, while US benchmark West Texas Intermediate (WTI) crude was at $107.81, losing 2.5%.

Brent crude price soared to $119.78 earlier in the day, marking its highest level since May 2, 2012. The price of WTI jumped to $116.50 – the highest since Sept. 2, 2008.

Hüseyin Demir