Nasdaq tumbles over 3% at open as Russia invades Ukraine

Representative Image. Credit: Reuters Photo

The Nasdaq Composite index tumbled at the open on Tuesday, dropping more than 20% 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%, at the open to 32,830.33, falling more than 10% 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%, at 4,155.77, while the Nasdaq Composite dropped 449.61 points, or 3.45%, to 12,587.88 at the opening bell.

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

Watch the latest DH Videos here: