The expanded S&P 500 index rose 1.5% to 4,288.66 points at the close, while the tech-dominated Nasdaq rose 3.3% to close at 13,473.59.
Meanwhile, the Dow Jones Industrial Average gained 0.3%, to close at 33,223.83 points.
Traders had braced for a tough Western response to the invasion, and while US President Joe Biden announced tough sanctions against Russia, Washington and its allies refrained from imposing even tougher measures.
It is not clear whether Moscow will retaliate with measures such as cutting its energy exports, which could boost already high oil prices that already many nations grapple with high inflation, but Tom Cahill of Ventura Wealth Management said US markets were they had oversold and expected a profit.
“We were definitely oversold and were hoping for a bounce,” he said. “I think there was a ‘buy the rumour, sell the news’ waiting to happen, and … he sort of fed himself.”
The gains closed a session that started on a very different note, with the Dow 2.2% in the red within minutes of starting trading and the Nasdaq down 2.5%.
Technology stocks were among the biggest gainers as carriers looked for deals, with Netflix climbing 6.1% at the close, Microsoft gaining 5.1% and Meta Platforms, formerly Facebook, gaining 4.6%.
With information from AFP.
Source: Larepublica
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
