9/30/2022, 10:00 PM (Source: TeleTrader)
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Dow dips 500 pts at close, S&P 500 hits new year low

Major US stock markets closed lower on Friday with the latest news on the Ukraine crisis in focus and the release of new economic data. The S&P 500 fell back to a new year low, and Nike shares dropped sharply on their worst day since 2001 after the company reported problems in its supply chain.

The latest escalation between Moscow and Kiev has dominated the political arena after the Russian President signed treaties to annex four new Ukrainian territories, and Western allies announced decisive actions against Russia. In that sense, United States President Joe Biden insisted Washington "will not be intimidated" by Mr. Putin.

At the close, the Dow Jones lost 500 points or 1.71%, with Nike sinking 12.71%. The Nasdaq 100 fell 1.73%, Lululemon Athletica decreased by 6.88%. The S&P 500 declined 1.50%, as Carnival Corp dropped by 23.31%. The euro was down by 0.16% against the dollar at 3:57 pm ET, selling for $0.97991.

Baha Breaking News (BBN) / JG