Russian invasion sparks massive market volatility

Stocks swung from huge losses to gains on Thursday as Russia's invasion of Ukraine triggered enormous volatility.

• The S&P 500 was down more than 2.6% before reversing course and closing up 1.5%. The Dow was down 859 points in the morning but closed up 92. The Nasdaq was down nearly 3.5% before finishing up 3.3%.

The big picture: Traders seemingly snap-sold stocks in the early going, fearing economic turmoil from the war.

Yes, but: Stocks rallied on hopes that the financial effects will be contained to the region.