Stocks climb back after steep slide on Fed, Ukraine jitters

NEW YORK (AP) — Stocks finished a volatile day slightly higher on Monday after reversing a steep slide.

A late-day buying spree pushed the benchmark S&P 500 index to a 0.3% gain after pulling it out of so-called correction territory, which is a drop of 10% or more from its recent high. Investors grappled with uncertainty over inflation-fighting measures from the Federal Reserve and the possibility of conflict between Russia and Ukraine.

The market is waiting to hear from chair Jerome Powell Wednesday after Fed policymakers conclude a two-day meeting and offer their latest thinking on the economy and interest rates.

Some economists have expressed concern that the Fed is moving too slowly  to combat high inflation.