S&P 500’s correction could deepen if Ukraine-Russia crisis escalates into outright conflict

An armed clash between Ukraine and Russia, coupled with punishing sanctions for Moscow, could push U.S. stocks toward another major loss, according to Goldman Sachs economists. The S&P 500 entered correction territory Tuesday, down 10% from its last peak, as investors weighed the conflict and fresh U.S. and U.K. sanctions on Russia. For the year, it’s down over 9%.…

After Clarifying the Definition of ‘Invasion,’ Biden Announces New Sanctions on Russia

Speaking from the East Room at the White House Tuesday afternoon, President Joe Biden announced new sanctions on Russian banks, sovereign debt and oligarchs after President Vladimir Putin launched an invasion into Ukraine Monday. “This is the beginning of a Russian invasion of Ukraine,” Biden said. “I’m going to begin to impose sanctions in response.”…