US stocks closed lower Thursday as the war in Ukraine entered its second week, raising risks and uncertainties.

The Dow Jones industrial average fell 96 points, or 0.29%, to close at 33,794. The S&P 500 lost 23 points, or 0.53%, to 4,363.

The Nasdaq decreased 214 points, or 1.56%, to finish at 13,537.

The VIX volatility index, known as the fear index, fell 0.85% to 30.48. The yield on 10-year US Treasury notes lost 0.48% to 1.856%.

The dollar index, on the other hand, increased 0.36% to 97.73.

Precious metals were mixed, with gold adding 0.46% to $1,937 per ounce, but silver shaving 0.3% to $25.22.

As the Ukraine-Russia war drags on, oil prices hit new historical highs before retreating.

Brent crude was trading at $110.28 per barrel, falling 2.3%, while US benchmark West Texas Intermediate (WTI) crude was at $107.81, losing 2.5%.

Brent crude price soared to $119.78 earlier in the day, marking its highest level since May 2, 2012. The price of WTI jumped to $116.50 – the highest since Sept. 2, 2008.