[Breaking] New York Stock Market Closes Lower Amid Ukraine Fear... Nasdaq Down 1.23%

[Asia Economy New York=Special Correspondent Joselgina] As concerns over Russia's invasion of Ukraine escalated to a critical point, the three major U.S. stock indices in New York all closed lower on the 22nd (local time).

On this day in the New York stock market, the Dow Jones Industrial Average closed down 1.41% compared to the previous session. The large-cap focused S&P 500 index fell 1.02%, and the tech-heavy Nasdaq index dropped 1.23%.

U.S. President Joe Biden, in an afternoon speech, declared that "Russia's invasion of Ukraine has begun," and announced sanctions targeting Russian financial institutions, national debt, leadership, and their families.

This followed Russian President Vladimir Putin's approval the previous day of independence for the pro-Russian separatist-controlled areas in eastern Ukraine's Donbas region and his order for Russian troops to enter. Subsequently, the Russian Federation Council approved the use of military forces outside Russian territory at President Putin's request.

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