Stocks fall in volatile session, oil sits at $123 and gold at $2,040

Gold surged to $2,040, highest since August 2020

U.S. stocks, in a volatile session, ended lower as investors debated whether President Biden's U.S. ban on Russian oil imports will lower oil prices over the long-term. 

RUSSIA INVADES UKRAINE: LIVE UPDATES

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 39755.82 -4.26 -0.01%
SP500 S&P 500 5249.81 +1.32 +0.03%
I:COMP NASDAQ COMPOSITE INDEX 16370.834544 -28.69 -0.17%

The Nasdaq Composite, which entered a bear market Monday, fell 0.3%, while the S&P 500 slipped 0.7%, and the Dow Jones Industrial Average over 185 points or 0.6%. 

Equities swung between losses and gains after Biden's announcement. Sen. Rob Portman, R-Ohio, tells FOX Business the markets briefly weighed whether the announcement signals the U.S. will focus on their own natural resources, even with the ongoing crackdown on pipelines and drilling. 

Ticker Security Last Change Change %
XLE ENERGY SELECT SECTOR SPDR ETF 93.40 +0.86 +0.93%

Oil remained higher but eased to $123.70 per barrel.

ENERGY INDUSTRY SWIPES BACK AT PSAKI 'RED HERRING' COMMENT ON OIL AND GAS LEASES

A gallon of regular gas now costs an average of $4.17 across the country after breaching the $4 barrier on Sunday for the first time since 2008, per AAA. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 77.51 +0.22 +0.28%
BNO UNITED STS BRENT OIL FD LP UNIT 31.81 +0.34 +1.08%
UGA UNITED STATES GASOLINE FUND LP PARTNERSHIP UNITS 70.85 +0.96 +1.37%

In related news, Shell Oil confirmed it will withdraw from involvement in all Russian hydrocarbons due to the country's invasion of Ukraine.

Ticker Security Last Change Change %
SHEL SHELL PLC 67.08 +0.33 +0.49%

WORLD BANK ASSEMBLING $725M EMERGENCY PACKAGE TO UKRAINE

Gold also rose above the $2,040 mark in a flight-to-safety move, now at the highest level since August 2020.

Ticker Security Last Change Change %
GLD SPDR GOLD SHARES TRUST - EUR ACC 205.44 +2.35 +1.15%

In other stock news, Dick's Sporting Goods reported better than expected profits, earning $3.16 per share, while sale store sales jumped 5.9%, also exceeding estimates. 

Ticker Security Last Change Change %
DKS DICK'S SPORTING GOODS INC. 222.59 +5.15 +2.37%

Apple ended lower after rolling out more 5G connectivity to its cheaper iPhone SE while the iPad Air got upgraded with faster chips. 

Ticker Security Last Change Change %
AAPL APPLE INC. 173.31 +3.60 +2.12%

In deal news, Google LLC is buying Mandiant, a "leader in dynamic cyber defense and response," in a deal valued at $5.4 billion or $23 per share. "The acquisition of Mandiant will complement Google Cloud’s existing strengths in security," Google noted in the announcement. 

Ticker Security Last Change Change %
GOOGL ALPHABET INC. 150.87 +0.20 +0.13%
MNDT n.a. n.a. n.a. n.a.

U.S. companies continued to distance themselves from Russia on Tuesday, as McDonald's, Pepsi, Starbucks and Amazon joined the movement, along with dating app Bumble. 

Ticker Security Last Change Change %
MCD MCDONALD'S CORP. 282.02 +3.40 +1.22%
PEP PEPSICO INC. 173.57 +0.84 +0.49%
SBUX STARBUCKS CORP. 91.50 +1.14 +1.26%
AMZN AMAZON.COM INC. 179.83 +1.53 +0.86%
BMBL BUMBLE INC. 11.40 +0.21 +1.88%

In cryptocurrencies, Bitcoin hovered around $38,000. 

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The Associated Press contributed to this report.