Dow gives up 585-point gain and turns negative in wild trading session; European markets close lower as investors monitor Russia-Ukraine war; U.S. bans Russian oil 
The S&P 500 whipsawed on Tuesday following its worst day since October 2020, as investors continue to assess geopolitical tensions between Russia and Ukraine and high commodity prices. 
The Dow Jones Industrial Average last traded down 90 points, after being up 585 points earlier in the session. The S&P 500 fell 0.3%. The Nasdaq Composite rose 0.1%, after falling into bear market territory in the previous session. 
Investors continue to evaluate surging commodity prices and slowing economic growth stemming from Russia’s invasion of Ukraine. Rising prices for oil, gasoline, natural gas, and precious metals like nickel and palladium are fueling concerns about a slowdown in global growth amid surging inflation. 
WTI crude oil jumped about as much as 7% to above $128 a barrel on Tuesday as President Joe Biden said the U.S. will ban Russian oil imports. Oil prices spiked to start the week with U.S. crude hitting a 13-year high of $130. 
The energy sector was a bright spot on Tuesday amid surging oil prices. Shares of Chevron and Exxon each rose 5% and 2.5%, respectively. Plus, solar and other clean energy stocks moved higher as the continued rise in oil prices shifted focus toward alternative energy sources. Enphase Energy and SunPower added 14% and 21%, respectively. 

The pan-European Stoxx 600 finished down by 0.36% after fluctuating for much of the day. Banks jumped 2% while media stocks fell 3.6%. 
In terms of individual share price movement, office rental firm IWG also jumped more than 8% after reporting a smaller annual loss as many tenants returned to offices after they were shuttered by the pandemic. 
Source: CNBC, Investing.com