Stocks concluded downward Tuesday after another choppy day on Wall Street, as oil prices rose after the United States banned Russian imports.

The economic consequences from its invasion of Ukraine also shook the nickel market, pushing up its price to the point that trading in the metal was halted.

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The S&P 500 dipped 0.7% after swinging between a 1% loss and a 1.8% gain. Such big fluctuations have become regular as speculators try to predict how high oil prices would rise and how much they will weigh on the economy. The S&P 500 fell 30.39 points to 4,170.70. It has dropped four days in a row and is presently 13.1% below its all-time high established earlier this year.

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Oil has surged on worries global supplies will be disrupted because Russia is one of the world’s largest energy producers. After President Joe Biden’s announcement of the Russian oil ban, the price of a barrel of U.S. crude rose 3.6% to settle at $123.70. Brent crude, the international standard, rose 3.9% to $127.98.

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But oil prices did not climb as high as they did a day earlier when worries flared about a possible ban and U.S. oil’s price touched $130.50. As oil pared its gains following Biden’s announcement, stocks also trimmed their losses.

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The Nasdaq composite fell 35.41 points, or 0.3%, to 12,795.55. On Monday, it closed 20% below its record high. The Dow Jones Industrial Average fell 184.74 points, or 0.6%, to 32,632.64. It earlier swung from a loss of 238 points to a gain of 585.

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Small-company stocks held up better than the broader market. The Russell 2000 rose 11.68 points, or 0.6%, to 1,963.01.

The yield on the 10-year Treasury note, which is used to set interest rates on mortgages and many other kinds of loans, rose to 1.84% from 1.75% late Monday.