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Wall St tumbles on Ukraine concerns; energy weighs

Published on Aug 6, 2014 3:03 AM
 

NEW YORK (REUTERS) – US stocks fell on Tuesday in broad selling led by energy shares as crude prices fell and as traders cited concern about possible escalation of military action in eastern Ukraine.

Selling accelerated in the afternoon after a Bloomberg report that cited the Polish Foreign Minister and said Russian units were poised to pressure or invade Ukraine.

“The market was vulnerable to begin with, with a number of commentators questioning Monday’s rebound,” said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.

She cited the concerns over Ukraine, saying “volume is very light and the market can be skewed in any direction with a headline crossing the wires.”

 
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