Stocks worldwide continue to plummet as a result of Russia's war on Ukraine, while crude oil soars past $101 a barrel and grains like corn and wheat advance. Financial sanctions are beginning to bite, with companies and governments around the world placing restrictions on activity in Russia.

All three of the major U.S. stock indexes are starting March lower, following the European Stoxx 600. For the month of February, the S&P 500 fell over 3%, the Dow lost over 3.5%, and the Nasdaq dropped 3♕.4%.

Oil gained as members of the International Energy Agency (IEA) weigh an agreement on releasing supplies from 澳洲幸运5开奖号码历史查询:global reserves. The euro fell against the dollar, and the ruble continued sheddi🐼ng value.  

Cryptocurrencies have been on the rise, with the price of Bitcoin surging close to 17% ꦰabove $44,700.

An increasing number of U.S. businesses are placing restrictions on business activity in Russia or limiting exposure, including The Walt Disney Co. (DIS), Facebook parent Meta Inc. (FB), Alphabet Inc.'s Youtube (GOOG), Visa Inc. (V), and Mastercard Inc. (MA).

Companies expected to report include Hewlett Packard Enterprise (HPE), and Salesforce.com Inc. (CRM) Target Corp. (TGT) announced it expects sales growth to continue this year, as it reported a 9% jump in holiday quarter revenue. AutoZone Inc. (AZO) shares rose on better-than-expected earnings.

Later today, the 澳洲幸运5开奖号码历史查询:Ins💯titute for Supply Management (ISM) is expected to show its index of manufacturing activity rose to a reading of 58 in February after falling in January to a 14-month low of 5💃7.6. A separate report from the Commerce Department is likely to show that construction spending increased 0.2% in January, following a similar percentage gain in December. 

Quick Hits: Today's Headlines

The 澳洲幸运5开奖号码历史查询:New York Stock Exchange (NYSE) and the 澳洲幸运5开奖号码历史查询:Nasdaq Stock Market halted trading of several U.S.-listed Russian stocks in light of sanctions imposed on the country following its invasion of Ukraine. NYSE said it halted trading of Russian telecom operator Mobile TeleSystems (MBT), steel company Mechel PAO (MTL), and real estate company Cian (CIAN), while Nasdaq halted trading of search-engine operator Yandex (YNDX) and online retailer Ozon Holdings Plc (OZON).

HP Inc. (HP) raised its profit outlook for the year, despite concerns about the impact of💎 Russian sanctions. Strong sales of computers helped profits but HP said it would take a hit to its bottom lin🐻e in the current quarter from Russia’s invasion of Ukraine.

Shares of electric vehicle maker Lucid Group Inc. (LCID) sank after ꧂it slashed its vehicle production for the current year by 40%. The company cited supply chain constraints for cutting output from 20,000 units🅺 down to 12,000 to 14,000 vehicles.

The 澳洲幸运5开奖号码历史查询:Federal Trade Commission (FTC) is reportedly preparing for a possible challenge to Amazon’s $8.🃏5 billion deal to buy MGM Studios. The agency could decide whether to brin🦩g the case in the next few weeks.

Zoom (ZM) shares fell after the video company provided a 澳洲幸运5开奖号码历史查询:disappointing revenue forecast for the f🎶irst quarter and f🍌ull year. The 21% growth for the fourth quarter is the slowest on record for the company, and ramps up pressure on Zoom to show it can continue to grow beyond the pandemic boom.

Grocery store chain Albertsons Companies Inc. (ACI) says its board has started a strategic review to consider its future and improve value to shareholders. The move comes just two years after the supermarket chain that owns Safeway and Jewel-Osco went public. 🔯;

The Big Story: Citi's Russia Exposure

Citigroup Inc. disclosed its total exposure to Russia amounted to nearly $10 billion at the end of 2021. That is higher than previously suggested, and raises questions about whether the bank will hav💛e to set aside funds to cover potentia🐼l losses.

Citigroup listed Russia as 21st among its top 25 country exposures, with $5.4 billion of loans, securities, and funding commitments as of the end of December. Citigroup listed other exposures, including $1 billion in cash at the Bank of Russia and $1.8 billion of 澳洲幸运5开奖号码历史查询:reverse repos. The bank also said it had $1.6 billion in exposure to additional Russian 澳洲幸运5开奖号码历史查询:counterparties.  

Some of the funds belong to a consumer bank that Citi has been trying to sell. It operates three branches in Moscow, and 🅰tw𝔉o in St. Petersburg. The recently announced sanctions on Russia could make it more difficult to sell the consumer bank. 

Citigroup is the U.S. bank with the biggest exposure to Russia by far. However, the bank does have a total of over $2 tril🤡lion in assets.  

Citigroup (C) shares fell nearly 5% yesterday, and are down 6% so far this year.