US equity markets resumed trading after the Presidents’ Day long weekend firmly on the backfoot as the geopolitical developments between Russia and Ukraine continued to dent investor sentiment - Dow shed -483-points or -1.42% to its lowest close since 18 June last year (33,596.61) after falling more than >700-points earlier in the session. The broader S&P500 lost -1.01% to 4,304.76, the lowest close since 4 October last year and settling in official correction territory (down just over >10% from its 3 January all-time high of 4,796.64). ~76% of index constituents declined. Consumer Discretionary (down -3.04%) led all eleven primary sectors lower. The technology-centric Nasdaq fell -1.23%. Consumer Discretionary (down 3.04%) led all eleven primary sectors lower. The small capitalisation Russell 2000 fell -1.45%.
