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Stocks See-Saw, Dow Drops 50 Points on Ukraine-Russia Fighting

Stocks see-sawed on Friday, climbing in the morning and then falling after a report that Ukrainian artillery destroyed most of a Russian military convoy that had crossed into Ukraine. The Dow Jones Industrial Average, which plummeted 130 points during the session, rallied later to close unofficially 50 points down. The S&P 500 ended marginally lower but the Nasdaq rose 11 points. Ukrainian artillery destroyed a "significant" part of a Russian armored column that crossed into Ukraine during the night, President Petro Poroshenko told British Prime Minister David Cameron, according to the presidential website."That's the sole reason for the (stock) pullback," said Peter Boockvar, chief market analyst at The Lindsey Group. On the economic front, the Producer Price Index rose 0.1 percent in July, in line with expectations and the Empire State Manufacturing Index fell in August. Industrial Production rose 0.4 percent, with the highest rate of utilization since June 2006.

View from inside Ukraine 1:36

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- Evelyn Cheng. CNBC.com