Markets Close Lower As Russia-Ukraine War Escalates

U.S. indices traded lower after Russian forces in Ukraine seized control of the Zaporizhzhia nuclear power plant. Conflict escalation has continued to lift energy and oil prices amid supply concerns. $Nasdaq Composite Index(.IXIC.US)$ $Dow Jones Industrial Average(.DJI.US)$ $Invesco QQQ Trust(QQQ.US)$

$W&T Offshore(WTI.US)$ crude oil prices traded at around $111 per barrel on Friday after briefly hitting their highest levels in 14 years earlier in the week.

The Labor Department reported Friday that the U.S. economy added 678,000 jobs in February, far surpassing economist estimates of 440,000 jobs. The U.S. unemployment rate fell to 3.8%, while wages grew 5.1% from a year ago.

Federal Reserve chair Jerome Powell told Congress he still believes a series of 0.25% interest rate hikes are appropriate for now but acknowledged the conflict in Ukraine has created economic uncertainty. Powell also said the Fed likely should have taken a more aggressive approach to combating inflation and noted that the Russian invasion will apply "upward pressure on inflation at least for a while."

$Occidental Petroleum(OXY.US)$ , $The Kroger(KR.US)$ and $The Mosaic(MOS.US)$ were among the top gainers for the $SPDR S&P 500 ETF(SPY.US)$ Friday.

$PVH Corp(PVH.US)$ , $Aptiv PLC(APTV.US)$ and $United Airlines(UAL.US)$ were among the top losers for the $S&P 500 Index(.SPX.US)$ .