Swings return to Wall Street, oil up after Russia sanctions

Friday, February 25, 2022, Vol. 46, No. 8

NEW YORK (AP) — Markets quivered Monday amid worries about how high oil prices will go and how badly the global economy will get hit after the U.S. and allies upped the financial pressure on Russia for its invasion of Ukraine.

Stocks swung down, up and down again, while investors herded into gold in search of safety and the value of the Russian ruble plunged to a record low.

The S&P 500 was down as much as 1.6% but recouped much of its losses to end down 0.2%.

Oil prices rose sharply amid concerns about what will happen to crude supplies. Treasury yields fell.