U.S. Stocks Open Lower on Tuesday; Super Micro Soars 26%

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U.S. Stocks Open Lower on Tuesday; Super Micro Soars 26%

Tiger Newspress11-19 22:30

US stocks opened lower on Tuesday as investors fled to safety amid rising geopolitical tensions between Ukraine and Russia.

The Dow Jones Industrial Average shed 327 points, or 0.7%. The S&P 500 and Nasdaq Composite lost 0.5% each. Treasurys increased as investors moved into the safe haven, driving yields lower. Gold futures also gained.

Super Micro Computer surged 26% after the server maker late Monday appointed an independent auditorand submitted a plan with Nasdaq that it believes supports its request for an extension of time to regain compliance with Nasdaq listing requirements. The stock will remain listed pending Nasdaq’s review of the plan. Super Micro said its board engaged BDO USA as its auditor, effective immediately. The company disclosed in late October that its previous accounting firm, Ernst & Young, had resigned.

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