New York, Feb. 16 (BNA): Stocks fell in morning trading on Wall Street Wednesday, a day after a three-day wave of losses erupted.
The S&P 500 was down 0.9% as of 10:19 AM ET. The Dow Jones Industrial Average fell 248 points, or 0.7%, to 34,743 and the Nasdaq fell 1.4%, according to the Associated Press.
Technology and telecoms stocks have been the heavyweights in the broader market. Microsoft fell 1.9 percent and Meta, the parent company of Facebook, fell 2.4 percent.
Bond yields fell. The yield on the 10-year Treasury fell to 2.03% from 2.04% late Tuesday.
The prospect of an escalation of the conflict between Russia and Ukraine has so far been a major concern for investors this week. Wider markets rebounded on Tuesday after Russia claimed to withdraw some of its forces massed on the Ukrainian border.
Tensions remain high as officials from NATO and the West have cast doubt on the allegations.
Energy prices have been particularly volatile so far this week. Russia is a major energy producer and a military conflict could disrupt supplies and shake markets.
Benchmark US crude oil prices rose 2.2%, reversing their trajectory from a 3.6% drop on Tuesday. Energy stocks gained ground on reversal. Philips 66 rose 1.5%.
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