The Clap👏 U.S. stock indices were up at the close of yesterday’s session following a newer set of sanctions imposed on Russia.
Tell me more🧐 The Dow Jones index, which tracks 30 large blue-chip companies (mature companies with big market caps, strong financial positions, & a solid history), closed 0.28% up after being down as much as 2.4%.
The S&P 500 index, which tracks 500 companies & is regarded as the best gauge of large-cap U.S. equities, closed 1.5% up after being down as much as 2.6%.
The Nasdaq staged the biggest comeback of them all, rising to 3.34% after being down more than 3% at the start of the trading session.
The catalyst🔦 Western countries issued new sanctions yesterday, including banning Russia’s biggest two banks from access to U.S. & U.K. financial systems, banning Russia’s national airline from landing in the U.K., & stopping exports of high-tech products such as semiconductors to Russia.
President Biden reassured Americans that the government understands the financial pain people are going through as a result of high energy prices, but that Russia’s actions “cannot go unanswered”.