Dow rises 600 points as investors shake off intensifying Russia-Ukraine conflict, spiking oil

Key Facts

• Stocks rose on Wednesday despite a continued surge in oil prices surged amid the intensifying conflict between Russia and Ukraine.
• With oil prices and Treasury yields rallying so much today, it is no surprise energy and financials are leading the open higher,” Oanda senior market analyst Edward Moya said in a note to clients.
• The central bank chief said that rate hikes are likely to begin this month despite the “highly uncertain” impact of the war in Ukraine, and that the Fed would make progress on but not finalize a plan to reduce its balance sheet.
• The index moves on Wednesday recouped losses from the previous session, which also saw a big spike in oil.

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