3/2, 10:00 PM (Source: TeleTrader)
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US closes higher, Dow gains over 590 pts

Major stock markets in the United States closed higher on Wednesday, with the Ukraine crisis in the center of attention.

Investors continued monitoring the situation in Europe and the effect of sanctions on Russia and the global economy. Earlier it was known that senior Chinese officials asked top Russian officials not to invade Ukraine before the Winter Olympics in Beijing. At the same time, the US government targeted Russia's oil refining and technology in the latest round of sanctions.

The Dow Jones gained 1.79% at 4:00 pm ET or 595 points, with Caterpillar Inc up by 5.35%. The Nasdaq 100 added 1.70%, while Micron Technology improved by 8.16%. The S&P 500 rose 1.86%, as EPAM Systems Inc grew by 15.97%.

The euro was flat against the dollar at 3:58 pm ET, selling for $1.11251.

Baha Breaking News (BBN) / JG