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U.S. stocks extended a broad-based rebound Friday, capping a sell-off that spanned three consecutive weeks.
The S&P 500 jumped 1.5%, building on back-to-back sessions of gains, while the Dow Jones Industrial Average soared 377 points, or about 1.2%. Technology stocks led the way up, with the Nasdaq Composite climbing 2.1%.
Oil extended a volatile run as prices resumed their climb Friday. West Texas Intermediate (WTI) and Brent crude oil futures each rose 4% to $86.88 per barrel and $92.84 per barrel, respectively.
In a stark warning to the West on Friday, Russia said efforts to place price caps on the country’s oil and gas exports in sanctioning Russia for its war in Ukraine would fail and “lead to a slippery floor under its own feet.”
Meanwhile in cryptocurrency markets, Bitcoin moved above $21,000, just one day after sliding below $19,000. The coin’s rally buoyed shares of crypto stocks, including Coinbaise — up more than 10% — and MicroStrategy — climbing nearly 12%.
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