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The Dow Jones industrial average fell the most in a month as tensions rose over Russia's military presence in the Ukraine.
The showdown in Ukraine stoked fears of a tit-for-tat campaign of economic sanctions between Russia and Western powers. Other stock markets around the world also fell as Russia's military tightened its grip on the Crimea region.
The Dow Jones industrial average fell 153.68 points, or 0.9 percent, to 16,168.03.
The Standard & Poor's 500 index dropped 13.72 points, or 0.7 percent, to 1,845.73.
The Nasdaq composite slid 30.82 points, or 0.7 percent, to 4,277.30.
For the year so far:
The Dow is down 408.63 points, or 2.5 percent.
The S&P 500 is down 2.63 points, or 0.1 percent.
The Nasdaq is up 100.71 points, or 2.4 percent.
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