Stocks little changed as caution remains

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NEW YORK (CNNMoney)

Investors are bracing themselves for Sunday's referendum in Crimea, where voters will decide whether to break away from Ukraine and join Russia. Ukraine and the West have described the vote as illegal. They have accused Russia of violating Ukraine's sovereignty and are threatening sanctions. The Dow Industrials fell 231 points on Thursday on jitters about the effects of the sanctions.

Russia's benchmark index fell more than 2% Friday, taking losses for the year so far to nearly 19%. The ruble weakened further against the dollar. Russian markets have been hit hard by fears that the crisis will deter foreign investment and wipe out growth this year.

The Nikkei in Japan dropped by 3.3%. Recent poor export figures from China have sparked worries about the pace of growth in the world's second biggest economy and has sent some investors to seek safety in Japan's yen.

Related: 4 reasons Russia will keep gas exports flowing

In corporate news, shares of Aeropostale (ARO) plunged after the retailer reported a bigger-than-expected loss and drop in revenue for the most recent quarter. It plans to close 52 stores this year.

General Mills (GIS, Fortune 500) shares were also lower. The maker of Cheerios and Yoplait yogurt warned that third quarter profits would be below Wall Street forecasts.

Shares of Liberty Media (LMCA)are climbing after the company said that it was no longer making an offer for all of Sirius XM. (SIRI)Liberty currently own 53% of the satellite radio provider.

And shares of Castlight Health (CSLT)are soaring in their market debut. The healthcare software company priced its initial public offering at $16 and surged 150% to about $40 in late morning trading.

First Published: March 14, 2014: 9:40 AM ET

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