Stocks rose on Wednesday to recover some steep losses from earlier this week, with jitters over Russia’s war in Ukraine and its implications for the global economy weighing on risk assets. Investors also monitored fresh remarks from Federal Reserve Chair Jerome Powell, who said the central bank remained on track to raise interest rates later this month as the economy remained firm despite ongoing geopolitical tensions.

The S&P 500 advanced by more than 2% at session highs. On Tuesday, the blue-chip index slid 1.6%, extending Monday’s losses to kick off March trading on shaky footing. The Dow and Nasdaq each also rebounded after falling sharply earlier this week, with risk assets reeling as investors contemplated the potential for more widespread supply chain and financial market disruptions as Russia deepened its attacks in Ukraine, and Western sanctions progressed.

Amid the ongoing geopolitical concerns, energy prices climbed, and…

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