Dow Jones Industrial Average
Here's how market benchmarks started trading soon after open:
S&P 500 Index
Stocks fell Friday despite a strong-than-expected jobs report as developments in the Russia-Ukraine war weighed on market sentiment. The Dow Jones Industrial Average dropped over 300 points, while the S&P 500 Index and Nasdaq Composite each fell over 1% lower.
For the week, the Dow and S&P 500 slid over 1%, while the Nasdaq Composite lost about 2.8%. The Dow notched its fourth straight week of losses.
Wall Street's slump followed reports that Russian forces had seized the nuclear power plant in Zaporizhzhya--that largest in Europe--after reported attacks caused a fire to break out at an adjacent training facility. The fire has since extinguished, but the plant in now under Russian control. The U.S. embassy in Kyiv called the attack on the plant a war crime.
Here's how the market settled to close out the week:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Microsoft to suspend all new product and service sales in Russia:
Microsoft
Microsoft President Brad Smith said in a blogpost that the tech giant is working closely with the governments of the U.S., U.K. and the European Union and its also suspending "many aspects" of its business in Russia in compliance with coordinated government sanctions.
"We believe we are most effective in aiding Ukraine when we take concrete steps in coordination with the decisions begin made by these governments and we will take additional steps as this situation continue to evolve," Smith wrote.
Disney to add ad-supported Disney+ subscription tier:
Disney
Disney expects this new tier to help it reach its goal bringing on as many as 260 million subscribers by fiscal year 2024. The company reported total Disney+ subscribers of 129.8 million as of its fiscal first quarter.
February posts stellar jobs growth as labor market recovers from pandemic impact:
Job growth accelerated in February, rising by is biggest monthly gain since July as the labor market continued to recover towards pre-pandemic conditions.
Non-farm payrolls totaled a better-than-expected 678,000 jobs for the month, according to the Labor Department's Bureau of Labor Statistics report published Friday. That topped expectations for only 444,000 additions.
The unemployment rate also improved to reach 3.8%, despite the labor force participation rate unexpectedly rising to 2.3%.
Here's how market benchmarks started trading soon after open:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index