Good evening.
Markets stage a comeback, war in Europe begins, and the Russian stock market tumbles 40%.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks climbed on Thursday, staging a massive comeback from steep declines seen earlier in the day.
Russia launched a full-scale invasion of Ukraine today, unleashing airstrikes on cities and military bases.
Why did stocks go up? The U.S. announced a new wave of sanctions against Russia in a broad effort to isolate Moscow from the global economy.
Investors are also betting that the Fed won't act as aggressively to raise rates at a time of heightened tensions.
The crypto market climbed on Thursday, with Bitcoin trading above $38k, after falling as low as $34.4k earlier in the day.
Catch Up
Today the Nasdaq fell more than 3%, then closed up more than 3%, for the first time since November 2008.
The Russian stock market collapsed as much as 45% as investors brace for more sanctions.
China refuses to call Russian attack on Ukraine an 'invasion,' deflects blame to U.S.