GLOBAL MARKETS-Wall Street drops on Ukraine conflict worries

The Dow Jones Industrial Average ended down 503.53 points, or 1.43%, at 34,738.06; the S&P 500 lost 85.44 points, or 1.90%, at 4,418.64; and the Nasdaq Composite dropped 394.49 points, or 2.78%, to 13,791.15.

NEW YORK/WASHINGTON: Global shares dropped on Friday on rising worries over escalating Ukraine-Russia tensions and the prospect of a tightened interest rate hike timeline from the U.S. Federal Reserve in response to decades-high inflation.

Benchmark Treasury yields lost ground, and German bond yields backed off the 2018 highs struck on Thursday. Gold and oil prices rose.