U.S. stock futures were little changed Tuesday, one day after a broad market slide as concerns about oil supply due to Russia's war with Ukraine spiked crude prices to near 14-year highs. The S&P 500 fell deeper into a correction, down nearly 3%, in its worst single-day performance since October 2020. (CNBC)
The Nasdaq dropped 3.6% into a bear market, down 20% from its November record highs. The Dow Jones Industrial Average lost almost 2.4%, falling into a correction, down more than 10% from its January record highs. Investors sold bonds on inflation fears Monday and that continued. (CNBC)
West Texas Intermediate crude, the U.S. oil benchmark, rose more than 4% to around $124 per barrel Tuesday, after settling Monday at its highest level since September 2008. WTI topped $130 on Sunday, a high back to July 2008. (CNBC)
The U.S. was set to ban Russian oil, liquefied natural gas and coal without European participation as soon as Tuesday, NBC News reports. Europe relies heavily on Russian energy production. Russia is a key oil and gas producer and exporter, and the country's war on Ukraine is disrupting the global market. (CNBC)
* Americans are paying the most at the pump on record amid a surge in energy prices (CNBC)
Shell on Tuesday apologized for a buying heavily discounted shipment of Russian oil and announced plans to halt involvement in all Russian hydrocarbons. Other firms, including BP and Exxon have announced plans to exit their multibillion-dollar Russian energy interests. (CNBC)
The London Metal Exchange halted nickel trading Tuesday after prices quickly doubled to a record high above $100,000 per metric ton, fueled by a race to cover shorts after Western sanctions threatened supply from Russia. (Reuters)
Chinese President Xi Jinping called for "maximum restraint" in Ukraine. That's according to Chinese state media. Xi's comments, in a virtual meeting with French and German leaders, were thought to be his strongest yet against Russia, a key economic and strategic ally of China. (CNBC)
Evacuations from embattled Ukrainian cities along safe corridors began Tuesday. U.N. officials said the exodus of refugees from Russia's invasion reached 2 million. Previous attempts to lead civilians to safety have crumbled with renewed attacks. (AP)
The U.S. has a long way to go before the pandemic is over and life returns to semblance of normalcy as deaths from Covid remain far higher than those from seasonal respiratory viruses such as the flu, a group of two dozen scientists, doctors and public health experts said in a new 136-page report. (CNBC)
President Joe Biden is expected to sign a long-awaited executive order this week directing the Justice Department, Treasury and other agencies to study the legal and economic ramifications of creating a U.S. central bank digital currency, Reuters reports.
The America250 Foundation, a nonprofit planning the government's observance of the American Revolution's 250th anniversary, has signed a deal with Meta Platforms (FB), giving Facebook 's parent an inside role in producing and promoting the commemoration, The Wall Street Journal reports.
Apple (AAPL) is holding its first launch event of the year Tuesday. It's expected to announce a new iPhone, an iPad and possibly some fresh Macs. Apple's spring device launches are less important to the company than its traditional fall events, which reveal new iPhone models ahead of the holiday shopping season.
Alphabet's (GOOLG) Google announced Tuesday plans to buy cybersecurity firm Mandiant (MNDT) for around $5.4 billion as part of an effort to better protect its cloud customers. Mandiant shares fell 3.5% in the premarket.
Dick's Sporting Goods (DKS) gained more than 4% in premarket trading after the sports retailer reported better-than-expected quarterly earnings and revenue. Same-store sales grew 5.9%, which was faster than the rate in the fourth quarter of 2019 before the pandemic.
Breeze Airways on Tuesday said it plans nearly double its network to 77 routes this spring and summer, a massive expansion for the new U.S. carrier started by JetBlue's (JBLU) founder David Neeleman. Breeze, which flights last May, is fifth carrier launched by Neeleman.
Dish Network (DISH) rose more than 2% in premarket trading after Dell upgraded Dish to buy from neutral. The investment firm said in a note that Dish's spectrum holdings are undervalued.