GLOBAL MARKETS-Stocks rally, oil slips as Russia-Ukraine tensions ease

The Dow Jones Industrial Average rose 422.67 points, or 1.22%, to 34,988.84, the S&P 500 gained 69.4 points, or 1.58%, to 4,471.07 and the Nasdaq Composite added 348.84 points, or 2.53%, to 14,139.76.

NEW YORK/LONDON: Stocks on Wall Street and in Europe rebounded on Tuesday while oil prices fell after Russia indicated it was withdrawing some troops from exercises near Ukraine and President Vladimir Putin said he saw room for further discussion with the West.

President Joe Biden later said a Russian attack on Ukraine remained possible and that the United States would defend every inch of NATO territory.