Wall Street retreats as Ukraine crisis hammers financial stocks – Reuters

Wall Street retreats as Ukraine crisis hammers financial stocks – Reuters

The New York Stock Exchange (NYSE) in New York City, where markets roiled after Russia continues to attack Ukraine, in New York, U.S., February 24, 2022. REUTERS/Caitlin Ochs

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Target Corp climbs on strong 2022 outlookZoom slips on downbeat annual revenue, profit forecastIndexes down: Dow 2.05%, S&P 1.67%, Nasdaq 1.50%March 1 (Reuters) - Wall Street's main indexes slumped on Tuesday with financial stocks bearing the brunt for a second straight day as the Russia-Ukraine crisis deepened, while a surge in oil prices boosted shares of energy companies.

Ten of the 11 major S&P sectors declined, with financials (.SPSY)tumbling 3.8% and tracking its biggest daily percentage decline since June 2020.

Wells Fargo lost 5.1%, while the broader banks index (.SPXBK) slid 4.9% as U.S. 10-year Treasury yields slumped to five-week lows amid a flight to safe-haven debt.

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However, the energy sector (.SPNY) outperformed with a 0.4% gain as oil jumped back above $100 a barrel.

Chevron Corp (CVX.N) climbed 2.7% to hit a record high after the oil major also raised its share buyback program and forecast for operating cash-flow through 2026. read more

Russia rained rockets down on Kharkiv and warned Kyiv