Stocks Drop on Concern over Ukraine

U.S. stocks tumbled at the open on Monday, as investors turned away from riskier assets in the wake of escalating tensions in Ukraine. The Dow Jones Industrial Average lately fell 116.22 points, or 0.71%, to 16,205.49. The S&P 500 was down 10.92 points, or 0.59%, at 1,848.53. The Nasdaq Composite fell 32.35 points, or 0.75%, at 4,275.77.

U.S. manufacturing activity accelerated in February, rising more than expected to its highest since May 2010, an industry report showed on Monday. Financial data firm Markit said the final read of its U.S. Manufacturing Purchasing Managers Index rose to 57.1 in February, above both the preliminary read of 56.7 and expectations for a read of 56.6.

US consumer spending in the U.S. rose a seasonally adjusted 0.4% in January, the Commerce Department said Monday. Personal income advanced 0.3%. The personal savings rate was flat at 4.3%. Also, inflation as gauged by the core PCE price index edged up 0.1% in January.

Apple (NSQ:AAPL) makes its next move in hands-free smartphone technology for car drivers when it unveils a new, integrated iPhone voice- control system at the Geneva Motor Show this week.