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US stock markets fall on Russia-Ukraine tensions, Home Depot slides

Picture of Drew Meredith, CFP
Drew Meredith, CFP
Picture of Drew Meredith, CFP

Drew Meredith, CFP

Drew Meredith is one of the founders of Wattle Partners. He is an experienced financial and investment adviser with expertise in self-managed superannuation funds, superannuation strategies, investment analysis and portfolio construction. Drew is a Partner at Wattle Partners.
More analysis

US stock markets all traded more than 1% lower on Tuesday, reopening after President’s Day on Monday.

Most benchmarks reversed losses of as much as 2% after the entry of Russian troops into ‘separatist’ parts of Ukraine scared investors.

As much as this is likely to be a localised issue, the threat of sanctions could harm the economy given Russia produces around 20% of the world’s oil.

At this stage, no financial sanctions have been imposed but Germany has paused their massive Nord Stream 2 gas pipeline with Russia.

Home Depot the real detractor

The Dow Jones was down 1.4%, the S&P 500 dropped 1.0% and the Nasdaq fell 1.2%, but interestingly it was Home Depot’s (NYSE: HD) report driving the former.

The Home Depot share price fell by close to 9%, contributing to more than 30% of the Dow’s fall, despite beating earnings estimates and hiking its dividend by 15%. Investors are clearly concerned about the weakening margins and higher costs.

US stock market movers

Here’s how other popular US stocks performed on Tuesday.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is tipped to edge lower when the market opens this morning. For a round-up of the latest news, check out my ASX 200 morning report.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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