U.S. equities drifted Tuesday as investors weighed the potential damage from sanctions to Russia after President Vladimir Putin recognized two separatist republics in eastern Ukraine and ordered troops sent to them.The S&P 500 was little changed while the Nasdaq 100 inched higher after a trading holiday on Monday. The Stoxx 600 Index fell as much as 2% before paring back losses to trade higher. And a flight to havens eased, as benchmark Treasury yields rose to trade at 1.95%.The European Union proposed an initial package of sanctions targeting Moscow in response to Putin’s decision to recognize the breakaway regions. It follows weeks of warnings from the U.S. and its partners that Russia could be planning to invade Ukraine, something he has repeatedly denied.
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