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Stock Market

Stocks surge as tensions ease in Ukraine

  • Wall-Street-582

    Markets climbed despite standoff overseas.

    ASSOCIATED PRESS

  • Wall-Street-583

    Trader Ryan Falvey, left, and specialist Jason Notter, work on the floor of the New York Stock Exchange, Tuesday, March 4, 2014. Relieved investors sent stocks sharply higher Tuesday after Russia pulled troops back from the border of Ukraine. The rally erased steep losses from Monday caused by fears an escalating conflict. (AP Photo/Richard Drew)

    ASSOCIATED PRESS

Wall-Street-582

Markets climbed despite standoff overseas.

ASSOCIATED PRESS Enlarge

NEW YORK -- Stocks surged Tuesday after Russia pulled its troops back from the border of Ukraine.

The Dow Jones industrial average jumped 227 points, or 1.4 percent, to close at 16,395.

The Standard & Poor’s 500 index set another record high following a slump the day before. The S&P 500 rose 28 points, or 1.5 percent, to 1,873. The Nasdaq composite rose 74 points, or 1.8 percent, to 4,351.

Traders were relieved that Russian President Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases.

Small-company stocks rose even more than the rest of the market as investors moved money into riskier assets. That shift also pushed the prices of bonds and gold lower.

The yield on the 10-year Treasury note rose to 2.70 percent.

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