Stocks fell again on Friday, and bond yields joined in the rout as fears of a Russian invasion of Ukraine added to Wall Street’s already long list of worries about inflation and interest rates.

The S&P 500 fell 1.9 % as the White House urged all US citizens to leave Ukraine within the next 48 hours to avoid probable Russian military action. The price of oil increased by more than 3%.

Stocks made a sharp swing lower in the middle of trading, with the S&P 500’s losses virtually doubling in roughly half an hour. Similar, knee-jerk fluctuations rippled through other markets as investors moved money away from riskier assets such as equities and into the safety of bonds and gold.

The S&P 500 slid 85.44 points to 4,418.64, marking its first weekly loss in three weeks but the fourth in the previous six. The Dow Jones Industrial Average fell 503.53 points, or 1.4%, to 34,738.06, while the Nasdaq fell 394.49 points, or 2.8%, to 13,791.15.

Brent crude, the international benchmark, gained 3.3% to close at $94.44 per barrel amid concerns that violence may hamper supply. Crude oil in the United States climbed 3.6% to $93.10 per barrel.

Gold surged as well, rising roughly $20 in a half-hour period during the afternoon to exceed $1,860 per ounce as investors sought protection.

A similar desire for stability lured investors into Treasury bonds, lowering their rates. The 10-year Treasury yield fell to 1.91% from around 2.03 % late Thursday.

Bond yields have taken a sudden reversal after slowly rising on anticipation that the Fed will raise rates more frequently and to a greater extent than predicted this year. Just the day before, the 10-year yield surpassed 2% for the first time since 2019.