Stock Market Today: GDP Grows but Stocks Dip on Ukraine-Russia Tensions

NEW YORK (TheStreet) -- U.S. stocks remained negative early afternoon Thursday as geopolitical caution sparked by Ukraine President Petro Poroshenko's statement that Russia has invaded Ukraine helped trigger a flight-to-safety rally. Poroshenko called an emergency meeting of the nation's security council and canceled a foreign trip, declaring that "Russian forces have entered Ukraine."

Watch the video below for a closer look at how U.S. markets are doing in midday trading Thursday:


WATCH: More market update videos on TheStreet TV

"The crisis in Ukraine returned to bite the markets again on Thursday," said Julian Jessop, chief global economist at Capital Economics.

Read More: Aug. 28 Premarket Briefing: 10 Things You Should Know

Markets were off session lows. The Dow Jones Industrial Average was down 0.19% to 17,089.80. The S&P 500 was down 0.1% to 1,998.04.The Nasdaq was down 0.13% to 4,563.50.

The search for safety pushed the Guggenheim CurrencyShares Japanese Yen Trust (FXY) up 0.14% to $93.90 and the SPDR Gold Trust (GLD) up 0.6% to $124.07.

The United States Oil Fund (USO)  rose 0.71% to $35.28 and the Guggenheim CurrencyShares Euro Trust (FXE) fell 0.18% to $129.89, influenced by worries about the impact rising Russia-Ukraine tensions could have on the single-currency bloc and how the fallout could affect global oil exports.

In London, the FTSE 100 slipped 0.36% to 6,805.80. In Frankfurt, the DAX declined 1.12% to 9,462.56. The CAC in Paris gave up 0.66% to stand at 4,366.04.

If you liked this article you might like

Forecast for S&P 500, Dow Industrials Remains Bullish, These Charts Show

Dow 20,000! It Should Mean Nothing to Investors, but Then Again...

Tradebird Investors Are Bullish on U.S. Stocks but Bearish on the Euro

Why Home Depot and Boeing Stock Fell Tuesday