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Dow posts biggest gain since Nov 2020 as Wall St rebounds second day

The Dow Jones Industrial Average rose 834.92 points, or 2.51%, to 34,058.75, the S&P 500 gained 95.95 points, or 2.24%, to 4,384.65 and the Nasdaq Composite added 221.04 points, or 1.64%, to 13,694.62.

February 26, 2022 / 07:49 AM IST

The Dow on Friday registered its biggest daily percentage gain since November 2020 with the market rebounding for a second day from the sharp selloff leading up to Russia's invasion of Ukraine.

Oil prices fell below $100 a barrel, easing some concerns about higher energy costs, and all 11 of the major S&P 500 sectors ended up on the day. The S&P 500 and Nasdaq also posted gains for the week.

Russian missiles pounded Kyiv and families cowered in shelters on Friday, a day after Russia unleashed a three-pronged invasion of Ukraine in the biggest attack on a European state since World War Two.

Investors also were assessing news that Russian President Vladimir Putin told his Chinese counterpart Xi Jinping in a call that Russia was willing to hold high-level talks with Ukraine, according to China's foreign ministry.