Dow’s worst close in 2022 so far | Cyberattack hits Ukrainian banks | Cheap dividend ETF picks

The S&P 500 slid deeper into correction territory on Wednesday as investors continued to ditch riskier assets.

VIEW IN BROWSER | SUBSCRIBE WED, FEB 23, 2022 EVENING BRIEF AS OF WED, FEB 23, 2022 • 04:53 ET DJIA 33131.76 -1.38% -464.85 S&P 500 4225.50 -1.84% -79.26 NASDAQ 13037.49 -2.57% -344.03   Most Active DOW NAME LAST CHG %CHG AAPL 160.07 -4.25 -2.59% INTC 44.65 -0.04 -0.09% MSFT 280.27 -7.45 -2.59% S&P 500 NAME LAST CHG %CHG AMD 109.76 -5.89 -5.09% AAPL 160.07 -4.25 -2.59% F 16.95 -0.34 -1.97% NASDAQ NAME LAST CHG %CHG AMD 109.76 -5.89 -5.09% AAPL 160.07 -4.25 -2.59% NVDA 223.87 -10.03 -4.29%   EDITOR'S NOTE The Dow Jones Industrial Average closed at its lowest level in 2022 so far, as investors ditched riskier assets amid the Russia-Ukraine conflict.   The 30-stock index lost about 464 points. The S&P 500 fell more than 1.8% and now sits nearly 12% from its Jan. 3 record close. The Nasdaq Composite, which also ended the session at its lowest level for the year so far, dropped nearly 2.6%. The tech-heavy index is nearing bear-market territory as it sits more than 18% from its November closing record.   "Uncertainty surrounding the Russia/Ukraine situation continues, the Fed still appears to be on a path to raise rates to fend off inflation, and even after a 10% pullback, valuations remain elevated by many historical standards," said Chris Hussey of Goldman Sachs.    The Dow and Nasdaq also closed below their Jan. 24 intra-day lows.    "The mounting tensions surrounding the Ukraine-Russia conflict suggests there is no quick fix in store," said Kathy Bostjancic, chief U.S. economist at Oxford Economics.   "This props up energy prices which further fuels high inflation and increases the likelihood of further U.S. sanctions against Russia," she said. "The direct economic impact from higher oil prices and general high uncertainty weighs on stock prices." While the S&P 500 is struggling, LPL Financial crunched some numbers and found that the 500-stock average rose nearly 90% of the time a year or two after previous corrections and bear markets since 1950.   "As uncomfortable and frustrating market corrections can be, investors need to remember that future returns after such pain can bring a lot of gains," said Ryan Detrick of LPL Financial.   "With the economy still strong and many signs of over-the-top negative sentiment, we doubt the S&P 500 will move into a bear market (down 20% or more), with a major low likely coming fairly soon," he added. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow closes at its lowest level of 2022 so far, S&P 500 drops further into correction territory Biden announces sanctions on Nord Stream 2 company, U.S. official says Russian forces are ready for an attack Cyberattack hits Ukrainian banks and government websites The market has adjusted its views of how the Federal Reserve will raise interest rates Morgan Stanley says stick to the fundamentals as the market worries over Ukraine and the Fed CDC says waiting longer between Pfizer, Moderna doses may reduce rare myocarditis risk for younger men Two top prosecutors in probe of Trump Org resign from Manhattan DA's office These 4 dividend ETFs with low expense ratios are a cheap way to play the income investing trend Ford CEO says automaker has no plans to spin off its electric vehicle business Elon Musk cheers on Justice Department probe of short sellers   TOP VIDEO Cybersecurity is one of the most 'mispriced' subsets of technology, says Wedbush Securities' Dan Ives   CNBC PRO These health-care stocks could be a good place to hide out from inflation, rising rates   SPECIAL REPORTS 'With volatility typically comes opportunity.' These are the smart moves advisors are telling clients to consider now The number of U.S. cities with an average home price of $1 million tripled last year   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.