US OPEN: Wall Street opens lower as Putin escalates tensions

• US stock opened lower
• Ukraine and Russia officials meet at the Belarus border
• Berkshire Hathaway (BRKB.US) reported record annual profit in 2021

Major Wall Street indices launched today's session more than 1% lower as investors weighed on fresh sanctions from western states amid Russia’s attack on various Ukrainian cities. Putin ordered nuclear deterrence forces to be in state of readiness while G7 nations agreed to exclude Russian banks from SWIFT. On top of that, Biden’s administration announced Monday that it would ban US people and companies from doing business with the Bank of Russia, the Russian National Wealth Fund and the Ministry of Finance. Belarus will suffer similar, sanctioned, consequences if it continues to encourage and abet Russia's aggressiveness in Ukraine, according to a US official. UK PM Johnson's Spokesman informed the cabinet that additional penalties on Russia will be imposed shortly. Johnson will meet with the Polish president and other G7 leaders later today. Meanwhile Ukrainian forces have held key cities including the capital of Kyiv. Today Russian troops renewed attacks in which many civilians were killed. Ukrainian and Russian officials are still negotiating near the border with Belarus, however the outcome is still unknown. “Ukraine is ready to continue seeking a diplomatic solution, but Ukraine is not ready to surrender or capitulate,” Foreign Minister Dmytro Kuleba told CNBC on Monday. On the data front, US wholesale inventories jumped 0.8% MoM to $798.2 billion in January, slowing from an upwardly revised 2.3% increase in December, a preliminary estimate showed. 

US2000 launched today's session lower, however buyers managed to erase early losses and index is approaching local resistance at 2035 pts which coincides with 23.6% Fibonacci retracement of the last downward correction. Should a break higher occur, next target for buyers is located around 2110 pts. Nearest support lies at 1900 pts. Source: xStation5

Company news:

Berkshire Hathaway (BRKB.US) stock fell slightly in premarket after Warren Buffett's company posted record annual profit in 2021, helped in large part by its investment in Apple (AAPL.US). Berkshire also bought back a record $27 billion in stock last year, but the pace of buybacks slowed during the fourth quarter. 

Berkshire Hathaway (BRKB.US) stock launched today's session slightly lower, not far from the all-time high at $326.30 which is marked with the upper limit of the 1:1 structure. If sellers manage to regain control, then downward move may accelerate towards long-term upward trendline. Source: xStation5

BP (BP.US) ADRs fell over 8.0% after the energy giant plans to exit from its stake of around 20% in Russia’s Rosneft (ROSN.UK), a decision that it said could cost around $25 billion.

Renewable Energy (REGI.US) stock jumped over 35.0% in premarket after the maker of renewable energy fuels agreed to be acquired by Chevron (CVX.US) for $61.50 per share, compared to the Friday close of $43.81. 

First Horizon (FHN.US) stock rose 32% after Canadian TD Bank announced plans to buy the U.S. lender in an all-cash deal valued at $13.4 billion to expand its footprint in the United States.