Stocks, bond yields sink as Ukraine worries shake markets

By DAMIAN J. TROISE and STAN CHOE
AP Business Writers

NEW YORK (AP) — Stocks sank Friday as worries about an imminent Russian invasion of Ukraine piled onto Wall Street’s already heavy list of concerns about inflation and interest rates. Treasury yields fell sharply as investors sought safety, and oil prices spiked more than 3%. The S&P 500 dropped 1.9% after the White House urged U.S. citizens to leave Ukraine in the next 24 to 48 hours. Tech pulled back more than other sectors, erasing 2.8% from the Nasdaq. Knee-jerk swings swept through other markets as investors pulled money out of riskier assets like stocks and shifted it into havens such as bonds and gold.