Updated at 4:25 p.m. on March 4, 2014
The Dow Jones Industrial Average rose 228 points, or 1.41 percent, after sinking 250 points in intraday trading as investors became skittish over the standoff in Ukraine.
The S&P 500 climbed 28 points (1.53 percent) and the Nasdaq rose 75 points (1.75 percent), on the news of eased tensions.
The rebound followed news that Russian President Vladimir Putin defended his decision Tuesday to send troops into Ukraine’s eastern Crimea region while insisting that military force would only be used when all other options had been exhausted.
“As for bringing in forces: For not there is no such need but such a possibility exists,” he said. “What could serve as a reason to use military force? It would naturally be the last resort, absolutely the last.”
This post was updated to include figures at market close.