U.S. stocks are dropping as Russia begins invading Ukraine.
The Dow Jones Industrial Average opened more than 700 points lower on Thursday, losing more than 2% of its value. The S&P 500 and the NASDAQ Composite also opened down more than 2%. The tech-heavy NASDAQ briefly turned positive before falling back into negative territory.
Since Russian troops invaded Ukraine late Wednesday night, there have been at least 40 casualties and dozens of people were wounded from explosions that occurred in major cities, including the capital of Kyiv, and the cities of Kharkiv and Odessa.
Biden will address the nation at 12:30 p.m. ET on Thursday to announce additional steps the U.S. will take beyond sanctions already imposed.
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