August 2, 2014
Wall St climbs as Ukraine worries ease
US stocks climbed today, with the S&P 500 bouncing from its worst weekly drop in the past seven as concerns eased over the situation in Crimea, even as the region voted to join Russia.
The 97-percent vote in Crimea in favor of quitting Ukraine was condemned as illegal by Kiev and the West, with the White House calling Russian actions "dangerous and destabilizing," but the referendum passed without violence.
The Dow Jones industrial average rose 181.55 points or 1.13 percent, to 16,247.22, the S&P 500 gained 17.7 points or 0.96 percent, to 1,858.83 and the Nasdaq Composite added 34.552 points or 0.81 percent, to 4,279.949.European stocks also rose, bouncing back from a three-week slide, helped by robust US manufacturing data and after Crimea's vote to join Russia passed without violence.
The FTSEurofirst 300 index of top European shares ended 1 percent higher at 1,297.45 points, rising for only the second time in seven sessions.
The benchmark index, which has been losing ground for the past three weeks, is down 4.1 percent since late February.
Around Europe, UK's FTSE 100 index rose 0.6 percent, Germany's DAX index gained 1.4 percent, and France's CAC 40 added 1.3 percent.
Japan's Nikkei share average stumbled to a 6-week low as escalating tensions in Ukraine soured investor sentiment, although SoftBank Corp jumped after its affiliate said it would go public in the United States.
The Nikkei slipped 0.4 percent to 14,277.67, hitting its lowest closing level since February 6. The benchmark tumbled 3.3 percent on Friday and shed 6.2 percent last week, marking the biggest weekly drop since last June.