The US stock markets ended lower on Tuesday after crude oil prices rose anew as the US banned imports from Russia.

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Wide swings have become common as investors struggle to guess how high oil prices will go, and how much they will weigh on the economy and further stoke inflation.

Nickel price surged so much that trading for the metal was shut on Tuesday as the economic fallout from Russia's invasion of Ukraine continues to rock markets.

US stock markets closing on Tuesday:

The S&P 500 fell 30.39 points, or 0.7%, to 4,170.70.

The Dow Jones Industrial Average fell 184.74 points, or 0.6%, to 32,632.64.

The Nasdaq fell 35.41 points, or 0.3%, to 12,795.55.

The Russell 2000 index of smaller companies rose 11.68 points, or 0.6%, to 1,963.01.

US stock markets for the week:

The S&P 500 is down 158.17 points, or 3.7%.

The Dow is down 982.16 points, or 2.9%.

The Nasdaq is down 517.89 points, or 3.9%.

The Russell 2000 is down 37.89 points, or 1.9%.

US stock markets for the year:

The S&P 500 is down 595.48 points, or 12.5%.

The Dow is down 3,705.66 points, or 10.2%.

The Nasdaq is down 2,849.42 points, or 18.2%.

The Russell 2000 is down 282.30 points, or 12.6%.

-With agency inputs