U.S. stocks slipped on the first day of March as oil prices surged and investors continue to monitor the fighting between Russia and Ukraine.
The Dow Jones Industrials retreated 80.76 points Tuesday to 33,811.84
The S&P 500 inched forward 0.27 points to 4,374.21
The NASDAQ Composite Index added 12.48 points to 13,763.88.
The decline in stocks came as satellite cameras captured a convoy of Russian military vehicles apparently on its way to Kyiv, the Ukrainian capital.
The continued aggression from Russia pushed energy prices higher. West Texas Intermediate crude futures jumped 5% on Tuesday morning, breaking above $101 per barrel and hitting its highest level in seven years.
Financial stocks were some of the biggest loses on Tuesday, with Bank of America down 1.9%, Citigroup off 1.8% and Charles Schwab lower by 3%.
Some of the early stock losses were offset by strong Target earnings, as the Big Box retailer posted profit of $3.19 a share that was well ahead of Wall Street estimates. Shares jumped nearly 12%.
As corporate earnings season winds down, cloud giant Salesforce reports results after the close.
On the economic front, February's Markit Manufacturing Purchasing Managers Index was released Tuesday morning. The Institute for Supply Management manufacturing PMI for February was also due out.
Prices for the 10-year Treasury gained sharply, lowering yields to 1.76% from 1.83% on Monday. Treasury prices and yields move in opposite directions.
The price of oil leaped $5.36 to $101.08 U.S. a barrel.
Gold prices hiked $20.20 to $1,920.90 U.S. per ounce.