Stocks opened mixed early Thursday and oil prices eased back as the markets were relieved from the tensions they have been having over Russia’s invasion of Ukraine.

The S&P 500 opened higher but edged down to 0.1% as of 10.28 am Eastern Time Zone. The Dow Jones Industrial Average was up 66 points or 0.2% to 33,959 and the Nasdaq fell 0.8%.

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Bond yields were steady as the yield on the 10-year Treasury rose to 1.87% from 1.86% Wednesday evening.

The major indexes surged on Wednesday after Federal Reserve Chairman Jerome Powell said he supports a modest interest hike at the Fed’s policy meeting in two weeks, bringing relief to investors who had tensed he would back more intense moves to curb inflation.

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Fitch Ratings and Moody’s Ratings cut Russia’s credit rating in the wake of the Russian invasion.

The economic fallout from the Russian invasion expanded, with Fitch Ratings and Moody’s Ratings cutting Russia’s credit rating. According to them, the invasion and sanctions have hurt Moscow’s ability to repay its debt, which has raised economic and stability risks.

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The London Stock Exchange has suspended trading in shares of 27 companies linked to Russia, including some of the major energy and steel firms such as Lukoil, Gazprom, Sberbank, Rosneft and Magnitogorsk Iron & Steel Works. Those shares lost most of their value before the suspension. Sberbank shares plunged from $14.90 on February 16 to 5 cents on March 2, while Rosneft shares went from $7.91 to 60 cents in the same period.

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Moscow exchange remained closed for trading on Thursday. Russia’s ruble fell another 15% against the US dollar and is worth less than 1 cent. It has trembles since Western nations imposed sanctions that cut off much of Russia’s access to the global financial system.

All week investors have been trying to assess the economic impact of Russia’s invasion of Ukraine. Russia world’s second-largest oil producer and prices have been surging as global supplies remain threatened by the conflict.

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OPEC+ countries have agreed to stick to their plans to gradually increase oil production. Meanwhile, the US and other major governments in the International Energy Agency plan to release 60 million barrels from strategic reserves to boost supplies.

On Thursday, prices for US benchmark crude oil and Brent crude, the international standard, were relatively stable, but are up more than 18% for the week and remain above $100 per barrel.

Investors are still focused on the Fed’s reaction and rising inflation along with the uncertain impact of the Ukraine conflict. Powell is giving the second day of testimony before Congress on Thursday.