Wall Street drops as investors digest sanctions on Russia

Published by
Reuters

By Devik Jain and Noel Randewich (Reuters) – Wall Street tumbled in volatile trading on Monday, with investors wrestling with uncertainty and bank stocks dropping following powerful Western sanctions against Russia as it continued its invasion of Ukraine. Citigroup fell 5%, helping drag the S&P 500 banks index down 2.7% as the U.S. 10-year Treasury yield slipped. The wider financial index fell 1.8%. Global stocks slumped, the Russian rouble tanked to record lows and safe-haven assets got a boost after the Western allies imposed new sanctions that limited Moscow’s ability to deploy its $630 bil…

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