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AP National Business

Oil climbs, stocks yo-yo as US bans Russian crude imports

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Published 2:00 PM

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stocks yo-yoed, oil prices climbed and the price of nickel surged so much that trading for it was shut on Tuesday. The economic fallout from Russia’s invasion of Ukraine continues to rock markets, and the U.S. banned imports of oil from Russia. The S&P 500 was 0.2% lower in afternoon trading after earlier careening between a loss of 1% and a gain of 1.8%. Such wide swings have become common as investors struggle to guess how high oil prices, as well as how much they’ll drag on the economy. Oil rose but did not reach the heights it did a day earlier.

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