U.S. stock futures slump as investors weigh impact of latest Russia sanctions
Dow futures plunge more than 400 points.
U.S. stock-index futures tumbled Monday after stinging new sanctions from the West over the Russian invasion of Ukraine.
What’s happening?
Wall Street ended sharply higher Friday, on hopes of peace talks between Russia and Ukraine — though such hopes appear dimmer after the weekend. The Dow Jones Industrial Average DJIA, +2.51% surged 834.92 points, or 2.5%, to close at 34,058.75, with the blue-chip gauge notching its best daily gain since early November 2020. The S&P 500 SPX, +2.24% rose 95.95 points, or 2.2%, to end at 4,384.65. The Nasdaq Composite Index COMP, +1.64% added 221.04 points, or 1.6%, to finish at 13,694.62.
For the week, the Dow dipped by less than 0.1% while the S&P 500 rose 0.8% and Nasdaq Composite climbed 1.1%. The S&P 500 and Nasdaq benchmarks wiped out losses from earlier in the week.
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