Morning Report 23 Feb 22: ASX set for a flat start as western nations impose sanctions on Russia

US sharemarkets fell on Tuesday. President Biden unveiled financial sanctions on Russia following Moscow's decision to recognise two breakaway regions in eastern Ukraine. Consumer discretionary fell most, down 3.0%. Shares in Home Depot fell 8.9% after the home improvement chain reported a decline in gross profit margins for the holiday quarter due to a jump in transportation and labor costs. At the close of trade the Dow Jones index lost 483 points or 1.4%, after being down 714 points. The S&P 500 index lost 1.0% with the Nasdaq index dropping by 167 points or 1.2%. 

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