Russia invades Ukraine: How the conflict could affect the US economy | USA TODAY


Here’s how Russia’s invasion of Ukraine could affect gas prices, airline prices and the general economy.

RELATED: Biden unveils new sanctions on Russia after its invasion into Ukraine https://bit.ly/36JGvYD

U.S. stocks opened lower Thursday as Russia began invading Ukraine. But remarks President Joe Biden made during an afternoon address on the conflict quelled some anxiety amongst investors.

The Dow Jones Industrial Average, S&P 500 and the NASDAQ Composite, which all opened down more than 2%, rebounded and closed higher.

The tech-heavy NASDAQ index ended Thursday with the greatest gains amongst the three indices. It closed 436 points higher, amounting to a 3.34% increase. The S&P 500 closed 63 points higher, or 1.5%, while the Dow closed 92 points higher, or 0.28%.

Crude oil was trading at more than $105 a barrel briefly on Thursday, the highest level since 2014, but closed under $100 a barrel.

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