NEW YORK (AP) — Stocks closed lower Tuesday following another wobbly day of trading on Wall Street, as oil prices climbed after the U.S. banned imports from Russia.
The economic fallout from its invasion of Ukraine also rocked the market for nickel, driving up its price so much that trading for the metal was shut.
The S&P 500 fell 0.7% after careening between a loss of 1% and a gain of 1.8%. Such wide swings have become common as investors struggle to guess how high oil prices will go, and how much they’ll drag on the economy. The benchmark index lost 30.39 points to 4,170.70. It has fallen four days in a row and is now 13.1% below its record high set early this year.