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Wall Street turns mixed and oil prices ebb as jitters recede

Wall Street
Posted at 10:46 AM, Mar 03, 2022
and last updated 2022-03-03 10:46:52-05

Stocks turned mixed Thursday morning and oil prices eased back as markets let go of some of the jitters they’ve been having over Russia’s invasion of Ukraine.

The S&P 500 gave up an early gain and edged down 0.1%, the Dow Jones Industrial Average rose 0.1% and Nasdaq fell 0.8%.

The major indexes rallied a day earlier after Federal Reserve Chair Jerome Powell said he favored a modest interest rate increase at the Fed’s policy meeting in two weeks.

Bond yields were steady.

Trading on the Moscow exchange remained closed and major credit ratings agencies cut Russia’s credit rating.