CREDIT: (Xinhua/Guo Peiran) (Photo by Xinhua/Sipa USA)
NEW YORK (77WABC) — Oil prices soared and investors shifted more money into ultra-safe U.S. government bonds as Russia stepped up its war on Ukraine. The price of oil surged back above $100 a barrel after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine. The rush into bonds pushed the yield on the 10-year Treasury back down to 1.75%, where it was in early February. Stocks fell following a volatile day for major indexes. The S&P 500 fell 0.7%, the Dow Jones Industrial Average fell 1% and the Nasdaq fell 0.5%.
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