New York Report: Tensions over Ukraine hit US

US stocks tumbled yesterday, with the Dow and the S&P 500 suffering their worst day since early February, on rising concerns over Ukraine and Russia and new signs of a slowdown in China.

Selling accelerated in afternoon trading after Russia launched military exercises near its border with Ukraine, showing no sign of backing down in its plans to annex its neighbor’s Crimea region despite a stronger-than-expected push for sanctions from the EU and the United States. The Dow Jones industrial average fell 231.19 points or 1.41 per cent, to 16,108.89, the S&P 500 lost 21.86 points or 1.17 per cent, to 1,846.34 and the Nasdaq Composite dropped 62.912 points or 1.46 per cent, to 4,260.42. Economically-sensitive sectors such as industrials , down 1.5 percent, and technology, down 1.6 percent, fared the worst. General Electric fell 1.6 per cent to $25.34; Apple lost 1.1 per cent to $530.65.

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