S&P 500 slips on soaring oil, falling financials amid Russia invasion; European markets close sharply lower; Russian convoy heads for Kyiv; Stoxx 600 down 2.2% 
The S&P 500 fell Tuesday, paced by a slump in banking stocks on falling Treasury yields and worries about the economic outlook after oil prices rose above $100 a barrel as Russia intensified its assault on Ukraine. The S&P 500 fell 1.6%, the Dow Jones Industrial Average fell 1.8%, or 598 points, the Nasdaq fell 1.6%. 
On the earnings front, Target Corporation (NYSE:TGT) proved a big winner after delivering better-than-expected fourth quarter results, and guidance that suggests that the pace of growth was likely to continue post-pandemic. 
Zoom Video Communications Inc (NASDAQ:ZM) fell 7% as quarterly results that beat on both the top and bottom lines were offset by the first quarter and full-year guidance that pointed to slowing normalizing demand for video conferencing software. RBC cut its price target on Zoom to $200 from $300 as guidance signaled a “material revenue deceleration,” but the bank kept its outperform rating on the stock amid expectations that “sentiment may be close to bottoming out.” 
Lucid Group Inc (NASDAQ:LCID) reported wider-than-expected loss as revenue fell short of estimates, sending its shares more than 13% lower. 

The pan-European Stoxx 600 dropped 2.2% by the close, with travel and leisure stocks plunging 7% to lead losses as most sectors and major bourses slid into negative territory. Basic resources bucked the downward trend to add 1%. 
At the top of the index, German defense company Rheinmetall continued to climb following the German government’s vow to boost defense spending, with shares adding 17% on Tuesday. 
Source: CNBC, Investing.com