Stocks step back on Ukraine worries, action remains light

|By:, SA News Editor

Stocks slipped after a three-day winning streak, pulling the S&P 500 back below 2,000, as concerns about the deteriorating situation in Ukraine overtook upbeat reports on the U.S. economy and labor market.

"We continue to have a good support economically," says Charles Schwab chief investment officer Omar Aguilar, which he says provides a tailwind for stocks to maintain current levels.

Participation remains light, with just 479M shares changing hands at the NYSE floor, which appears to come in as the lowest tally of the year.

U.S. Treasurys surrendered some early gains as the session wore on, with the 10-year note ending only 5 ticks higher to send its yield lower by 2 bps to 2.34%.