Wall Street’s main benchmarks rose sharply in pre-market trading Tuesday after the Russian Defense Ministry said some military units will start returning to their permanent bases after completing drills near the Ukrainian border.
Futures tied to the S&P 500 jumped 1.47%, or 69 points, to 4,463.00, while Dow Jones Industrial Average futures were up 1.16%, or 401 points to 34,872.00. Contracts on the Nasdaq Composite steeply advanced 2.23%, or 317.50 points, to 14,570.50 after the escalating threat of Russian military action against Ukraine had weighed on markets in recent days as investors already grapple with the prospect of swifter monetary tightening by the Federal Reserve.
Meanwhile, oil retreated from its highest price since 2014, falling 3.76% to $91.87 per barrel.
Fears that the Kremlin will green light a move to force in on Ukraine as soon as this week have created a new…
