"We are in the process of temporarily relocating our Embassy operations in Ukraine from our Embassy in Kyiv to Lviv due to the dramatic acceleration in the buildup of Russian forces" said Secretary of State Anthony Blinken.
The Dow Jones Industrial Average recovered from a nearly 400 point drop to close down 172 points or 0.5%. The S&P 500 fell 0.5%, while the Nasdaq Composite ended flat.
|I:DJI||DOW JONES AVERAGES||32637.19||+516.91||+1.61%|
|I:COMP||NASDAQ COMPOSITE INDEX||11740.650441||+305.91||+2.68%|
U.S. crude rose to $95.46 per barrel, with Brent, the global benchmark, was slightly higher at $96.48.
|USO||UNITED STATES OIL FUND L.P.||84.59||+2.11||+2.56%|
|BNO||UNITED STS BRENT OIL FD LP UNIT||33.32||+0.73||+2.24%|
Elsewhere, James Bullard, president of the St. Louis Federal Reserve Bank, reiterated a call for a full-percentage-point rate hike by July. The 10-year Treasury yield returned to 2%.
In corporate news, Splunk shares closed higher on reports the data cloud company could be purchased by Cisco Systems, according to Credit Suisse. Cisco is also set to report earnings on Wednesday.
|CSCO||CISCO SYSTEMS INC.||44.99||+0.99||+2.25%|
While fellow Dow member Walmart will report on Thursday.
Lockheed Martin scrapped its $4.4 billion deal to buy Aerojet Rocketdyne citing opposition from the Federal Trade Commission as Lockheed Martin Chairman, President and CEO James Taiclet voiced his disappointment.
"Our planned acquisition of Aerojet Rocketdyne would have benefitted the entire industry through greater efficiency, speed, and significant cost reductions for the U.S. government," he said in a statement.
|LMT||LOCKHEED MARTIN CORP.||447.99||+0.45||+0.10%|
|AJRD||AEROJET ROCKETDYNE HOLDINGS INC.||41.21||+0.61||+1.50%|
SoFi shares gave up gains after Bank of America initiated coverage of the fintech company with a buy rating and a $17 price target.
Rivian moved higher after Soros Management disclosed a new stake of nearly 20 million shares.
|RIVN||RIVIAN AUTOMOTIVE INC.||29.23||+1.98||+7.27%|
Other names to watch this week on the earnings front include mass media and entertainment company ViacomCBS, graphics chipmaker Nvidia, online lodging marketplace Airbnb, food processor Kraft Heinz and agricultural machinery maker Deere, to name a few.
|DE||DEERE & CO.||347.51||+4.54||+1.32%|
|KHC||THE KRAFT HEINZ CO.||37.07||-2.81||-7.05%|
The Bank of Japan made an offer for unlimited government bond purchases on Monday, moving to curb a surge in long-term interest rates. Japan’s central bank set the interest rate for purchasing 10-year government bonds at 0.25%. The offer drew no bids but still had the effect of lowering interest rates and likely reassured investors of continued support for the markets.
In cryptocurrencies, Bitcoin slipped to the $42,000 level.
The Associated Press contributed to this report.