Major Reversals From Overnight Action Continue Following Biden Sanction Remarks

Stocks are in rally mode as well, with the Nasdaq – down nearly 3% at its worst levels – currently up 2.4%. The S&P 500 is now ahead 0.6%. Paring earlier gains in a big way is gold, which is off about $100 from the morning hours, and now down 1.15% for the session at $1,888 per ounce. Oil has had a major reversal as well, now at $92 per barrel after having topped $100 earlier.

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