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Citigroup slipped 1.6% in premarket trading to lead losses among
the big banks as the U.S. 10-year Treasury yield dropped to
1.7565, its lowest level since Jan 3. [US/]
European stock markets sagged, oil jumped back above $100 a
barrel as a Russian armoured column bore down on Ukraine's
capital Kyiv on Tuesday. Russia's defense minister said Moscow
will continue its military operation in Ukraine until it
achieves its goals.
Oil majors Exxon Mobil and Chevron Corp rose about 0.6% each as
oil prices surged. Chevron also raised its share buyback program
and forecast for operating cash-flow through 2026. [O/R]
Defense stocks, including Lockheed Martin Corp, edged higher,
building on a sharp rally in the previous session. Shares of
Tesla Inc dipped 1.3%, making them the biggest decliner among
the mega-cap growth names.
At 06:09 a.m. ET, Dow e-minis were down 188 points, or 0.56%,
S&P 500 e-minis were down 26.75 points, or 0.62%, and Nasdaq 100
e-minis were down 93 points, or 0.65%.
All the major indexes logged their second straight month of
losses on Monday, with the S&P 500 index down over 8% so far in
2022, its deepest two-month decline since March 2020.
The CBOE volatility index, also known as Wall Street's fear
gauge, was last trading at 31.40 after hitting its highest level
since Feb. 24 in the previous session.
(Reporting by Devik Jain in Bengaluru; Editing by Saumyadeb
Chakrabarty)
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