Stocks Edge Lower as Wall Street Awaits the Outcome of Crimea Referendum

Michael Teague |

Results from Friday, March 14

●     Standard & Poor’s 500: -0.28 percent to 1,841.13

●     Dow Jones Industrial Average: -0.27 percent to 16,065.67

●     NASDAQ Exchange: -0.35 percent to 4,245.40

Only one week after setting a new all-time high, the benchmark S&P 500 continued to slide as stocks fell across the board for yet another day. The increasingly shrill tit-for-tat exchange of threats between Russia and the US in recent days has left investors with no choice but to run for cover, and anxiously wait for the outcome of Sunday’s referendum that is to decide the fate of Eastern Ukraine’s Crimean region.  Not helping matters was the Labor Department’s disappointing announcement that wholesale prices in the US dropped during the month of February, for the first decline in three months, which was in defiance of expectations for gains.

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●     BP plc (BP) had an underwhelming day despite the fact that the EPA has agreed to let it bid on new contracts in the Gulf of Mexico following a four-year ban.

●     Red-hot Chinese insurer CNinsure (CISG) ended the day over 5 percent lower after a week of massive gains that followed the release of its fourth-quarter earnings earlier in the week.

●     Social media phenom Twitter (TWTR) fell another 3 percent by the closing bell, as the stock seems to be searching for a more realistic valuation.

●     Five companies from the Small-CapStars Materials index that have gained in the face of geopolitical tension.

●     Biotech firm Raptor Pharmaceuticals (RPTP) had a rough day after releasing its results from the recently ended period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
BP BP p.l.c. 36.25 0.20 0.55 4,214,936
CISG CNinsure Inc. 8.02 0.01 0.12 44,263
RPID Spot Mobile Intl Ltd New 0.00 0.00 0.00 0
RPTP Raptor Pharmaceutical Corp. 9.00 0.00 0.00 1,668,563
TWTR Twitter Inc. 18.09 1.19 7.04 58,399,847


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