Stocks climb back after steep slide on Fed, Ukraine jitters | www.WDIO.com

Stocks climb back after steep slide on Fed, Ukraine jitters

Stocks drop sharply as market eyes Fed, Ukraine tensions Stocks drop sharply as market eyes Fed, Ukraine tensions |  Photo: MGN

DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers
Updated: January 24, 2022 04:56 PM
Created: January 24, 2022 01:23 PM

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%.

Credits

DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Copyright 2022 The Associated Press. All rights reserved.

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