Stocks Climb Back After Steep Slide On Fed, Ukraine Jitters
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Summary
NEW YORK (AP) — A volatile day on Wall Street ended Monday with stocks notching modest gains after climbing back from a steep slide that had knocked more than 1,200 points off the Dow Jones Industrial Average.The late-afternoon comeback pulled the S&P; 500 out of so-called correction territory — a drop of 10% or more from its recent high.The market’s gyration reflected investors’ uncertainty over how aggressive the Federal Reserve’s inflation-fighting measures will be and the possibility of conflict between Russia and Ukraine.“We’re in this wait-and-see mode, which is almost the most uncomfortable place to be, so I think the market is really grappling with that,” said Lindsey Bell, chief markets and money strategist at Ally Invest.The S&P; 500 ended 0.3% higher after having been down about 4%.
As said here by AP