Stocks finished sharply higher Tuesday as energy prices pulled back and investors combed through another batch of corporate earnings. The Dow Jones Industrial Average
gained about 502 points, or 1.5%, to end near 34,912, marking its biggest daily percentage climb since March 16, according to FactSet. The S&P 500 index
rose 1.6% and the Nasdaq Composite Index
advanced 2.2%. The rally on Wall Street came despite warnings from the International Monetary Fund that Russia’s war in Ukraine will lead to a significant pullback in global economic growth in 2022. A top IMF official on Tuesday also told MarketWatch that financial markets have yet to anticipate how high the Federal Reserve will need to raise interest rates to get a grip on inflation at a 40-year high. U.S. crude prices
fell more than 5% to settle near $102 a barrel.