Wall Street drops as oil rally, Russia-Ukraine conflict fuel worries | Malay Mail

NEW YORK, March 24 ― All three major US stock indexes ended more than 1 per cent lower yesterday as oil prices jumped and Western leaders began gathering in Brussels to plan more measures to pressure Russia to halt its conflict in Ukraine.

“These geopolitical problems are sort of hanging over the market,” said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco. Among the day's biggest drags, Adobe Inc's stock slid 9.3 per cent after the Photoshop maker late Tuesday forecast downbeat second-quarter revenue and profit and sees an impact on fiscal 2022 revenue due to the Russia-Ukraine crisis.

GameStop Corp shares jumped 14.5 per cent after Chairman Ryan Cohen's investment company bought 100,000 shares of the videogame retailer.

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