S&P 500 closes in correction territory | Biden announces sanctions against Russia | Dividend growers with safe payouts

The major averages declined to start the holiday-shortened week amid brewing tensions between Russia and Ukraine.

VIEW IN BROWSER | SUBSCRIBE TUE, FEB 22, 2022 EVENING BRIEF AS OF TUE, FEB 22, 2022 • 04:46 ET DJIA 33596.61 -1.42% -482.57 S&P 500 4304.76 -1.01% -44.11 NASDAQ 13381.52 -1.23% -166.55   Most Active DOW NAME LAST CHG %CHG AAPL 164.32 -2.98 -1.78% INTC 44.69 -0.35 -0.78% MSFT 287.72 -0.21 -0.07% S&P 500 NAME LAST CHG %CHG AMD 115.65 +1.82 +1.60% F 17.29 -0.75 -4.16% AAPL 164.32 -2.98 -1.78% NASDAQ NAME LAST CHG %CHG AMD 115.65 +1.82 +1.60% AAPL 164.32 -2.98 -1.78% NVDA 233.90 -2.52 -1.07%   EDITOR'S NOTE Stocks slid to start the holiday-shortened week, and the S&P 500 closed in correction territory as tensions brewed between Russia and Ukraine.   The Dow Jones Industrial Average lost more than 480 points on Tuesday, pushed lower by an almost 9% drop in Home Depot. Tuesday was the Dow's fourth straight session of losses.   The broad-market index dropped 1% and ended the day in correction territory — more than 10% off its most recent all-time high close. The technology-heavy Nasdaq Composite fell 1.2%. Stocks, however, closed off their lows of the day.   Investors sold riskier assets after Russian President Vladimir Putin said Monday that he would recognize the independence of two breakaway regions in Ukraine. President Joe Biden then announced sanctions on Russian bank VEB and its military bank, Russia's sovereign debt and certain wealthy individuals and their families. The VanEck Russia ETF, a U.S.-traded security which invests in top Russian companies, closed 8.9% lower on Tuesday.   "Putin sending troops in has only added to the uncertainty and investors are taking a sell first and ask questions later mentality," said Ryan Detrick of LPL Financial. "The truth is Russia isn't a major trading partner with the U.S. and past geopolitical events haven't been longer-term worries for stocks, but with emotions running high right now, it will take some time for cooler heads to prevail." Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  S&P 500 closes in correction territory, Dow drops 480 points as Russia-Ukraine conflict intensifies Biden says U.S. will sanction Russian financial firms, sovereign debt and individuals after Ukraine incursion Biden says the U.S. will try to limit the effect of Russia sanctions on gas prices Guilty verdict in federal hate crime trial in Ahmaud Arbery's death Covid infections plummet 90% from U.S. pandemic high, states lift mask mandates Germany halts approval of gas pipeline Nord Stream 2 after Russia's actions One key to Home Depot's growth strategy: Nabbing bigger orders from home professionals Russia's Ukraine incursion could complicate the Federal Reserve's interest rate decisions These dividend growers have hefty and safe payouts Macy's earnings top estimates, retailer says it won't spin off e-commerce from stores   TOP VIDEO Bitcoin plummets to two-week low as Russia sends troops into Ukraine: CNBC Crypto World   CNBC PRO These tech stocks may have bottomed after massive sell-off, Bank of America says   SPECIAL REPORTS Parents face a surprise 'kiddie tax' bill if children are trading stocks Oil hits highest price since 2014   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.