At a critical juncture early in the week, Ukraine’s tensions plummeted

The much-anticipated summit concludes on Wednesday and the market will focus on how much the Fed is worried about rising inflation and how strong the US Central Bank will be to hold it. [nL1N2U11YY]

Fed Fund futures traders are offering a full price on the 25 basis point increase in March, plus three further price increases by the end of the year.

The U.S. State Department has ordered members of the family of diplomats to leave Ukraine on Sunday.

The order was one of the clearest indications that US officials are still courageous in their actions.

The CBOE Volatility index, which is widely seen in the US market, has risen more than 30 points since early December.

“Ukraine is clearly an issue on the market today,” said Darren Shuringa, CEO of ASYMmetric ETFs in New York. This will continue to weigh on the market in the future until it becomes clear which type of solution and what the outcome will be.

Shares are off to a strong start in 2022, with the Nasdaq Index falling 14.3% from its current November close.

Last week, the S&P 500 and Nasdaq released their worst weekly performance since the outbreak began in March 2020. The benchmark index fell 8.8 percent on January 4.

At 08:15 am ET, the Dow e-minis decreased by 101 points or 0.3%, the S&P 500 e-minis decreased by 29.25 points or 0.67%, and the Nasdaq 100 e-minis decreased by 165.75 points or 1.15%.

Technology companies Microsoft Corporation, Apple Inc., International Business Machinery Corporation and Tesla Inc. traded 0.4% and 5.0% ahead of their pre-market results this week.

Google’s owner, Alphabet Amazon.com, Netflix and Nvidia Corp, each saw more than 1% of growth forecasts, while Citigrupp was down 1.5% among Wal Street lenders.

“Duplicates and estimates for many technology companies are indeed high in many cases and there is room for further and further refinement if you do not provide the revenue for the evaluation,” Shuringa said.

Kohl’s Corp. grew by 33.9%, according to Reuters private equity firm Sikamor Partners.

Pfizer Inc. slipped 3.7% due to US health regulators’ refusal to accept treatment for growth hormone deficiency caused by partner OPKO Health Inc.

OPKO share fell 10.8 percent.

In the meantime, the January read on the Markets composition PMI is just after the market opens.

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