US STOCKS-Wall St slides as Ukraine tensions escalate

lunes 3 de marzo de 2014 13:30 GYT

* Russian stock market, bonds and currency plunge

* Crude prices up more than 2 percent

* Gold stocks rise, tracking the metal's price move

* Dow down 1.3 pct; S&P 500 off 1.1 pct; Nasdaq off 1.4 pct

By Rodrigo Campos

NEW YORK, March 3 (Reuters) - U.S. stocks tumbled on Monday alongside other risky assets globally as Ukraine and Russia prepared for possible war after Russian President Vladimir Putin declared he had the right to invade his neighbor.

Ukraine mobilized for war on Sunday and Washington threatened to isolate Russia economically as Moscow's biggest confrontation with the West since the Cold War unfolded.

The S&P 500 had closed at a record high on Friday, and profit-taking was expected on Wall Street due to the political uncertainty. The index found some support when it fell to 1,840, but broke through it after the first attempt. The S&P 500 extended losses in early afternoon trading and then recovered slightly to hover near the support level.

"There's been a very significant rally," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey. "If you need an excuse to sell, this is a good one."   Continuación...