Market volatility sits at a two-year high as Russia invaded Ukraine. On the news of the invasion, the NASDAQ Composite swung by 6.8%, the largest intraday swing since the day WHO declared the start of the pandemic in March of 2020.
Russia and rate worries pushed stocks lower last week, suffering their second consecutive week of declines. Worries about an imminent Russian invasion of Ukraine and high inflation weighed on market sentiment.
Large Cap indices moved into correction territory last week, down more than 10% from recent highs, but rallied back by the weekend. The Russell 2000 Index of small-cap stocks tested bear market territory, down nearly 20% off its November peak, but also rebounded.
The U.S. stock market suffered its worst week of performance since March 16, 2020's pandemic sell-off. Rising rate fears and growth concerns hit markets hard, with tech shares taking much of the brunt causing the NASDAQ Composite to plunge 7.5%.