Equities rallied and oil prices fell on Tuesday after Russia said it would reduce its military operations near Ukraine’s capital, Kyiv.
On Wall Street, the benchmark S&P 500 and the technology-heavy Nasdaq Composite rose to more than two-month highs, with the indices closing up 1.2 per cent and 1.8 per cent, respectively. Both are still down this year.
The rally in US stocks came as Russia said it had decided to “dramatically” scale back military activities in the Kyiv and Chernihiv areas after envoys from Moscow and Ukraine met in Istanbul on Tuesday to discuss a possible peace deal.
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