On March 7th, 2022 the Dow Jones Industrial Average dropped nearly 800 points to end the day entering correction territory, the first correction the Dow has had in over two years. As tensions in Ukraine continue to escalate, investors weigh the probabilities of additional sanctions being issued in an attempt to cripple the Russian economy. Their is also discussions of a possible U.S. ban on crude oil imports originating from Russia and the impact of this could further intensify inflationary pressures. The Dow closed out the day down -2.37% which marks it’s lowest close of 2022 thus far, and is down approximately 10% from its record high on January 4th. The Dow would also be joining the S&P 500 in correction territory, with the S&P 500 closing out the day down -2.95%.
