Investing.com - U.S. stocks slid on Friday after tensions in
Ukraine continued to escalate and steer investors away from stocks
and into safe-haven positions such as the yen or gold.
At the close of U.S. trading, the Dow 30 fell 0.85%, the S&P
500index fell 0.81%, while the NASDAQ Composite index fell
Tensions in Ukraine continued to escalate on Friday after
Ukrainian troops killed several pro-Russian rebels on Thursday.
Russian troops, meanwhile, conducted military drills close to
the border between the two countries, which frayed nerves even
In response, U.S. Secretary of State John Kerry said Washington
was moving closer to slapping fresh sanctions on Moscow, which
steered investors away from stocks and into safe-haven positions,
the yen and gold especially.
Russia is the world's second largest oil exporter after Saudi
Arabia, and a halt in oil and gas exports to Europe could bruise
the U.S., as many U.S. companies depend on Europe for healthy
chunks of revenue.
Data out of the U.S. failed to offset geopolitical tensions in
The Thomson Reuters/University of Michigan's final April
consumer sentiment index came in at 84.1, beating market
expectations for a 83.0 reading. April's preliminary reading was
On the earnings front, Ford Motor Company (NYSE:F) reported
earnings below expectations, while Amazon.com Inc (NASDAQ:AMZN)
said it was bracing for a loss in the current quarter.
Starbucks Corporation (NASDAQ:SBUX), meanwhile, released
earnings that topped forecasts as did tech giant Microsoft
Visa Inc (NYSE:V) shares plunged after the company said U.S.
sanctions on Russia were hurting its transaction volumes, adding
revenues would suffer this quarter.
Leading Dow Jones Industrial Average performers included
McDonald's Corporation (NYSE:MCD), up 0.89%, Coca-Cola Company
(NYSE:KO), up 0.75%, and General Electric Company (NYSE:GE), up
The Dow Jones Industrial Average's worst performers included
Visa Inc (NYSE:V), down 5.03%, Intel Corporation (NASDAQ:INTC),
down 1.81%, and Walt Disney Company (NYSE:DIS), down 1.71%.
European indices, meanwhile, finished lower.
After the close of European trade, the DJ Euro Stoxx 50 fell
1.30%, France's CAC 40 fell 0.80%, while Germany's DAX fell 1.54%.
Meanwhile, in the U.K. the FTSE 100 fell 0.26%.
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