Stocks climb back after steep slide on Fed, Ukraine jitters
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January 23, 2022
NEW YORK (AP) — Stocks finished a volatile day slightly higher on Monday after reversing a steep slide caused by uncertainty over inflation-fighting measures from the Federal Reserve and the possibility of conflict between Russia and Ukraine.
A late-day buying spree pushed the benchmark S&P 500 index to a 0.3% gain after pulling it out of so-called correction territory — a drop of 10% or more from its recent high. The Dow Jones Industrial Average had declined more than 1,000 points before rallying and ending higher.
"We're in this wait-and-see mode, which is almost the most uncomfortable place...
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