Stocks climb back after steep slide on Fed, Ukraine jitters
Stocks drop sharply as market eyes Fed, Ukraine tensions[MGN]
NEW YORK (AP) — Stocks recovered from big early losses Monday as investors jumped in before the closing bell.
The Dow Jones Industrial Average swung 1,217 points and closed up 0.3% after dropping 1,000 points as investors anticipated inflation-fighting measures from the Federal Reserve and fretted over possible conflict between Russia and Ukraine.
Benchmark indexes flirted with near 4-month lows as the market readies for the Fed to raise interest rates to tame inflation, which is at its highest level in nearly four decades.
Retailers notched some of the biggest gains: Gap jumped nearly 8%.