Wall Street Has Best Day of 2014
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Frederick M. Brown/Getty Images(NEW YORK) — Wall Street and world markets slumped Monday on fears about the escalating crisis in Ukraine. On Tuesday, however, the markets staged what investors are calling a major relief rally, with traders believing that the worst-case scenario has been averted for now. Russian leader Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases.
The major averages had their best day of 2014. The S&P 500 closed at a new all-time high of 1,873.91. The Nasdaq Composite finished at a fresh 14-year high of 4,351.97, and the Dow Jones Industrial Average ended up 227 points at 16,395.88.
But market watchers caution that investor sentiment can turn on a dime and that your money is only one bad headline away from another wild ride.
“Though the Ukraine crisis will continue to be the number-one story and global focal point for markets today and for the foreseeable future, other news headlines will gradually start to bleed into today’s story line,” Peter Kenny of the Clearpool Group said about the recent market activity.
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