WASHINGTON, USA – A tumultuous day on Wall Street saw stocks end higher after posting heavy losses earlier in the day, as uncertainty over rising geopolitical tensions and Fed policy weighed down oil and boosted safe havens.
“Recent bearishness in equities is overdone, and out of line with activity momentum, easing bottlenecks, and what we expect to be a strong earnings season,” wrote JPMorgan analysts in a midday note.in response to Russia’s military buildup at Ukraine’s borders., while President Joe Biden weighed options for boosting US military assets in the region.
The risk-off attitude was evident in oil markets, as prices dipped by as much as 3% after closing Friday, January 21, with a fifth straight week of gains.
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