BLITZER: We'll get back to the search for Malaysia Airlines flight 370 in a moment. But first, an update on new developments in Ukraine. Last night, President Obama said there would be no U.S. military intervention in Ukraine. Just a little while ago, the president announced new sanctions on Russian and Crimean officials and on one bank. He spoke about what could come next.</s>BARACK OBAMA, PRESIDENT OF THE UNITED STATES: -- great concern as Russia has positioned its military in a way that could lead to further incursions into southern and eastern Ukraine. For this reason, we have been working closely with the European partners to develop more severe actions that could be taken if Russia continues to escalate the situation. As part of that process, I signed a new executive order today that gives us the authority to impose sanctions not just on individuals, but on key sectors of the Russian economy. This is not the preferred out come. These sanctions would not only have a significant impact on the Russian economy, but could be disruptive to the global economy. However, Russia must know that further escalation will only isolate it further from the international community.</s>BLITZER: Russia immediately retaliated with their own sanctions against nine officials, among them John Boehner; and the Senate majority leader, Harry Reid; as well as Senators John McCain; Robert Menendez; and Mary Landrieu. All are banned from traveling to Russia. Boehner's spokesman said the speaker is proud, proud to be on that list. Markets are feeling the ripple effect of the new Fed chief, Janet Yellen. Taking a look at the big board right now, stocks are up about 117 points right now. That's it for me. Thanks for watching. I will be back at 5:00 p.m. eastern for a special two-hour edition of "The Situation Room." NEWSROOM starts with Brooke Baldwin right now.
Obama Talks New Sanctions on Russia.