Stocks took a sudden turn lower in the middle of trading, with losses for the S&P 500 nearly tripling in about half an hour.
They’re just the latest sharp veers in what’s already been a tumultuous 2022 for markets.
The S&P 500 fell 85.44 points to 4,418.64 to lock in its first weekly loss in the last three but its fourth in the last six.
But he also said that “the threat is now immediate enough that prudence demands that it is the time to leave now” for Americans in the country.
Brent crude, the international standard, rose 3.3% to settle at $94.44 barrel amid the possibility that violence could disrupt supplies.
For bond yields, it’s a sharp U-turn after they steadily marched higher on expectations that the Fed will raise rates more often and by a sharper degree this year than expected.
Forecasts for a more aggressive Fed got a huge jolt on Thursday, when a report on inflation came in hotter than expected and showed that it was at a 40-year high.
Much of the market’s volatility in early 2022 has centered around expectations for what the Fed will do.