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'Stocks fell on Wall Street in afternoon trading Tuesday after Russia sent forces into Ukraine's eastern regions, escalating tensions, and President Joe Biden announced sanctions. <br> At the closing bell,  Industrial Average was down 480 points, or 1.4 percent.<br><br>The Nasdaq dropped 1.23 percent and the S&P 500 sank 1.02 percent.<br>While stocks sank, crude oil prices soared on Russian leader 's moves in Ukraine, which the White House is calling 'the beginning of an invasion.' <br>West Texas Intermediate (WTI) crude, the US benchmark, jumped by more than 3 percent and touched a seven-year high on Tuesday as it peaked at $96. <br>U.S.<br><br>trading was closed Monday for Presidents Day, but markets in Europe and Asia shuddered as Putin moved to secure Russia's hold on Ukraine´s rebel regions, further stoking fears of a full-scale invasion. <br> The Dow Jones Industrial Average fell more than 300 points, or nearly 1 percent, in early trading before recovering from session lows in choppy trading<br> West Texas Intermediate (WTI) crude, the US benchmark, jumped by more than 3 percent and touched a seven-year high on Tuesday as it peaked at $96<br> Traders work on the floor of the New York Stock Exchange last week.<br><br>Markets reopened on Tuesday after a three-day break for the Presidents Day holiday<br> Russia is a major energy producer and the tensions over Ukraine have brought wide swings in volatile energy prices, on top of the inevitable risks of a [https://www.dailymail.co.uk/home/search.html?sel=site&searchPhrase=broader%20conflict broader conflict]. <br>Oil prices already had surged recently to their highest level since 2014.<br><br>By early Tuesday, the advance of U.S. benchmark crude oil had abated slightly. <br>It was up about $3, or 3.5 percent, to about $94 per barrel in electronic trading on the New York Mercantile Exchange. <br> RELATED ARTICLES <br><br><br><br>Share this article<br>Share<br><br><br>The price of Brent crude, the standard for international oils, gained about $4.50, or nearly 5 percent, to hit about $98 per barrel. <br>'We see the oil market in a period of frothiness and nervousness, spiced up by geopolitical fears and emotions,' said Julius Baer analyst Norbert Rucker.<br>'Given the prevailing mood, [https://t.me/s/Bitcoin_verdienen geld im netz] oil prices may very likely climb into the triple digits in the near term.'<br> The Nasdaq swung between gains and losses Tuesday as investors digested Putin's moves<br> Cryptocurrency was also under pressure, with Bitcoin touching a three-week low early on Tuesday<br>Megacap growth names such as Amazon, Apple, Microsoft, Meta and Tesla all opened lower on Tuesday.<br>Cryptocurrency was also under pressure, with Bitcoin touching a three-week low early on Tuesday.<br>Bitcoin was last trading around $38,000, down 2.7 percent on the day and well below its February high of $45,200. <br>'The fear factor remains elevated and until we get some sort of a clearer picture of what Putin may or may not do, the market is just going to stay in a state of confusion and volatile,' said Peter Cardillo, chief market economist at Spartan Capital Securities. <br>Putin on Monday recognized two breakaway regions in eastern Ukraine and ordered troops to those regions, inviting threats of fresh Western sanctions.<br>Germany halted the Nord Stream 2 gas pipeline project designed to bring Russian gas to the country and Britain slapped sanctions on five Russian banks and three men close to Putin.<br> Russian armored vehicles stand on the road in Rostov region of Russia on Tuesday.<br><br>Putin is moving troops into eastern Ukraine after recognizing two breakaway regions<br> Germany halted the Nord Stream 2 gas pipeline project designed to bring Russian gas to the country after [https://www.vocabulary.com/dictionary/Putin%20moved Putin moved] his troops into Ukraine <br>The European commission and the United States were set to announce more sanctions later in the day.<br>The Ukraine crisis has added further support to an oil market that has surged on tight supplies as demand recovers from the COVID-19 pandemic.<br>The Organization of the Petroleum Exporting Countries (OPEC) and allies, together known as OPEC+, have resisted calls to boost supply more rapidly.<br>A senior British minister on Tuesday said that Russia's move into Ukraine has created a situation as grave as the 1962 Cuban missile crisis, when a confrontation between the United States and Soviet Union brought the world to the brink of nuclear war.<br>Nigeria's minister of state for petroleum on Tuesday stuck to the OPEC+ view that more supply was not needed, citing the prospect of more production from Iran if its nuclear deal with world powers is revived.<br>Talks are ongoing on renewing Iran's nuclear agreement with world powers, which could eventually boost Iran's oil exports by more than 1 million barrels per day. <br>'