US stocks move broadly lower as Ukraine tensions persist

Stocks fell broadly in afternoon trading on Wall Street Thursday, chipping away at the weekly gains for major indexes.

The S&P 500 fell 1.1% as of 12:04 p.m. Eastern. The Dow Jones Industrial Average fell 360 points, or 1%, to 34,577 and the Nasdaq fell 1.6%.

Markets have been unsettled all week by tensions in Ukraine, where Russian military forces have amassed at the border.

U.S. President Joe Biden said there was a high risk that Russia would invade the country.

The potential for a military conflict in Europe made for volatile energy prices this week.

Russia is a major energy producer and a military conflict could disrupt supplies and jolt markets. U.S. crude oil prices fell 2%.

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