U.S. stock markets were unchanged Wednesday night after the Dow Jones Industrial Average reached its lowest point of the year. This was due to increasing tensions between Russia, Ukraine and the United States.

Dow futures rose 0.08%, while futures tied to the S&P 500 were unchanged and Nasdaq 100 futures added 0.01%.

The Dow lost 1.3% or 464 points during the normal trading session. The S&P 500 fell 1.8%, moving deeper into correction and ending the day about 12% from its Jan. 3 record close. Nasdaq Composite, a tech-heavy stock exchange lost 2.6%.

The potential outcomes of Ukraine’s situation and the implications for markets were being assessed by investors. Russia also warned that they would not tolerate any further sanctions. The U.S. has already announced that it would impose further sanctions on Russia and the U.K. is ready to follow suit.

Some people are now beginning to forget about Ukraine’s worries and to recognize that the pulldown in the markets isn’t the only factor. They also believe it won’t cause much longer-term problems.

Brad McMillan (chief investment officer, Commonwealth Financial Network) stated that “so far, it appears like Ukraine isn’t responsible for the drop, in spite of the fears.” If that’s the case, the future impact of the Ukraine crisis on the market, if any is, will be minimal.”

He said that higher interest rates will likely pull down the markets more than lower ones. However, it is crucial to think about the indirect impact the Ukraine crisis may have on this market. In particular, higher inflation could result.

McMillan explained that although market volatility is common, the reality is that we have witnessed a much lower decline than could have been anticipated. This is because of the strength of the fundamentals, which should continue.”

Several large companies will report on Thursday in earnings. Moderna, Anheuser-Busch and Alibaba all will be reporting before the official opening. After the closing bell, Coinbase, Block and Etsy are open.

Investors will be watching the GDP and the jobless claims prior to the opening bell, and the new home sales figures late in the day Thursday.