Good evening.
Market turbulence continues, the S&P 500 is in correction mode, and Russia could start "a major war in Europe" any day.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Wednesday as the threat of war in Ukraine added to uncertainty in global markets.
Ukraine declared a state of emergency and called on its citizens to leave Russia immediately.
The S&P 500 is down 12% from its record, putting it in correction territory for the first time since Feb. 2020.
The selloff is largely due to uncertainty around Ukraine and Fed rate hikes expected next month.
The crypto market fell on Wednesday, with Bitcoin trading around $37,000, as cryptocurrencies fell in tandem with stocks.
Catch Up
U.S. Omicron cases have dropped 90% from their pandemic high of 800k on January 15 to an average of 84k.
U.S. home prices grew at the fastest rate on record last year – up 18.8%.
President Biden announced a "first tranche" of sanctions on Russia that targets two financial institutions, its sovereign debt, and Russian elites.