Stock Market Today: Dow Drops 597 Points as Russia Escalates Attack

The major market indexes opened lower and losses accelerated as the session wore on.

Residential building damaged in Vasylkiv, Kyiv Oblast, Ukraine on March 1, 2022
(Image credit: Getty Images)

The major market benchmarks opened lower and losses accelerated amid reports that Russia is targeting civilian areas in Ukraine, including Kharkiv, the country's second-largest city. Additionally, after warning of "high-precision strikes," Russian forces on Tuesday hit a TV tower in Kyiv.

"The crisis in Ukraine is evolving rapidly, and with it so are investor expectations for international relations, commodity prices, inflations, the corporate operating environment and company margins," says Lauren Goodwin, economist and portfolio strategist at New York Life Investments.

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Karee Venema
Senior Investing Editor, Kiplinger.com

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at Schaeffer's Investment Research. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.