Markets tremble as tensions build in Ukraine; Gold, bond prices rise as traders seek safety

3/3/2014
ASSOCIATED PRESS
Wall-Street-577

Specialist Gregg Maloney works on the floor of the New York Stock Exchange, Monday, March 3, 2014. Global stock markets are down sharply on tensions over Russia's military advance into Ukraine and the threat of sanctions by Western governments. (AP Photo/Richard Drew)

ASSOCIATED PRESS

NEW YORK — Stocks fell and bond prices rose today as tensions build over Russia’s military presence in the Ukraine.

The price of crude oil rose as traders feared that Russian oil exports might be disrupted if Western governments impose sanctions on Moscow.

The Dow Jones industrial average fell 153 points, or 0.9 percent, to close at 16,168 today.

The Standard & Poor’s 500 index fell 14 points, or 0.8 percent, to 1,845. The S&P 500 closed at a record high on Friday.

The Nasdaq composite fell 30 points, or 0.7 percent, to 4,277.

Russia’s benchmark stock index plunged 12 percent. Stocks also fell sharply in Europe. Germany’s DAX fell the most, 3.4 percent.

The price of gold rose to a four-month high as traders sought safety.