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Reports of renewed conflict in Ukraine wipe out US stock market gain
NEW YORK, N.Y. – Reports of renewed fighting in Ukraine are sending stocks lower in midday trading.
Major U.S. indexes are still headed for a solid gain for the week.
Stocks opened higher but turned lower in mid-morning trading Friday following reports that Ukrainian soldiers attacked a Russian military convoy that had entered the country.
Bond prices rose as investors sought safety, driving the yield on the 10-year Treasury note down to 2.32 per cent, its lowest level this year.
The Dow Jones industrial average was down 78 points, or 0.5 per cent, to 16,635 as of noon Eastern time. It was up 61 points earlier.
The Standard & Poor’s 500 fell seven points, or 0.4 per cent, to 1,947. The Nasdaq lost seven points, or 0.2 per cent, to 4,445.
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