Morning Report 9 Mar 22: US sharemarkets were volatile on Tuesday

Investors digested the news of a US ban on Russian oil imports. Banks rose 2.2% in response to higher bond yields. Shares in Caterpillar rose 6.8% in response to a broker upgrade. At the close of trade the Dow Jones index was down by 185 points or 0.6% after earlier being down 239 points and up by 586 points. The S&P 500 index was down by 0.7% and the Nasdaq was lower by 35 points or 0.3%.

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