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Stocks fall as U.S. bans Russian oil imports

STORY: U.S. stocks fell in a rocky, up-and-down session on Tuesday, as investors weighed fast-paced developments in Ukraine as the United States banned Russian oil and other energy imports over the invasion.Wall Street unable to rebound after Monday’s selloff, one of the worst in recent memory.CFRA Research’s chief investment strategist, Sam Stovall.”I think the market is tracing out the design on Charlie Brown’s shirt because it really doesn’t know what will happen in the next day, week or month. And, so, we’re simply having traders who are controlling today’s market action.”The Dow ended lower again, down half a percent. The S&P 500 finished almost three quarters of a percent lower, and the Nasdaq dug deeper into a bear market, falling about a quarter of a percent.Gains in megacap growth stocks, such as Tesla, Meta Platforms and Alphabet helped prevent another steep decline for the S&P 500 like the one it saw on Monday.U.S. gasoline prices hit a record high on Tuesday and energy stocks rose along with them, including the Nasdaq-listed Enphase Energy and alternative energy company Solaredge Technologies – both closing up more than 10%.And, in company news, shares of Caterpillar jumped 6.76% after investment bank Jefferies upgraded the construction equipment maker’s stock to “buy” from “hold” as a hedge against rising inflation.

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