US: Nasdaq tumbles over 3% at open as Russia invades Ukraine

[NEW YORK] The Nasdaq Composite index tumbled at the open on Thursday (Feb 24), dropping more than 20 per cent from its record closing high in November last year and on track to confirm a bear market, after Russia launched an all-out invasion of Ukraine.

The Dow Jones Industrial Average fell 301.43 points, or 0.91 per cent, at the open to 32,830.33, falling more than 10 per cent from its all-time closing peak on Jan. 4 and on pace to confirm a correction.

The S&P 500 opened lower by 69.73 points, or 1.65 per cent, at 4,155.77, while the Nasdaq Composite dropped 449.61 points, or 3.45 per cent, to 12,587.88 at the opening bell.

A correction and a bear market is confirmed when an index closes down 10 per cent and 20 per cent or more, respectively, from its record closing level. REUTERS