Stocks fall on first day of March as Russia bears down on Ukraine capital, oil hits 7-year high

U.S. stocks slid on the first day of March as oil prices surged and investors continue to monitor the fighting between Russia and Ukraine.

The Dow Jones Industrial Average dropped 179 points, or 0.5%. The S&P 500 was off by 0.3% and the Nasdaq slid 0.3%.

Sea shares fell nearly 9% as Q4's net loss expanded to $617 million year-on-year.

Zoom shares fell nearly 5%, and the performance guidelines for fiscal year 2023 were lower than expected. After the performance, many investment banks sharply reduced the target price.

Lucid shares fell more than 16%, the net loss in the fourth quarter expanded year-on-year, and the production forecast of electric vehicle lucid air in 2022 was significantly reduced.

Target's shares rose more than 13%, with a net profit of $1.544 billion in the fourth quarter and an all-time high in EPS.

As corporate earnings season winds down, cloud giant Salesforce reports results after the close.

On the economic front, February's Markit Manufacturing PMI will be released at 9:45 a.m. on Tuesday. ISM manufacturing PMI for February will be out at 10 a.m.