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President Biden has authorized the first use of U.S.-supplied long-range missiles by Ukraine for strikes inside Russia, U.S. officials said.
The weapons are likely to be initially employed against Russian and North Korean troops in defense of Ukrainian forces in the Kursk region of western Russia, the officials said.
Mr. Biden’s decision is a major change in U.S. policy. The choice has divided his advisers, and his shift comes two months before President-elect Donald J. Trump takes office, having vowed to limit further support for Ukraine.
Allowing the Ukrainians to use the long-range missiles, known as the Army Tactical Missile Systems, or ATACMS, came in response to Russia’s surprise decision to bring North Korean troops into the fight, officials said.
U.S. stocks finished lower on Friday, capping off the worst week for the S&P 500 since early September. Creeping doubts about a December interest-rate cut by the Federal Reserve helped interrupt a post-election rally.
Economic data on inflation and retail sales, coupled with comments from senior Fed officials about there being no big rush to cut rates, including from Chair Jerome Powell, weighed on investors' minds this week. Investors also cast a wary eye toward the Treasury market, as the yield on the 10-year note touched a six-month high earlier on Friday, FactSet data showed.
Here is where stocks finished, based on preliminary data from FactSet:
The S&P 500 closed down 78.55 points, or 1.3% lower at 5,870.
The Nasdaq Composite was down by 427.53 points, or 2.2%, at 18,680.
The Dow Jones Industrial Average shed 305.87 points, or 0.7%, at 43,444.99
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