US STOCKS-S&P 500 ends at a record; Ukraine-Russia tensions ease

martes 4 de marzo de 2014 18:12 GYT

* Putin says use of military force would be last resort

* RadioShack closing 1,100 stores after sales tumble 20 pct

* S&P 500 up 1.4 percent for the year

* Dow up 1.4 pct; S&P 500 up 1.5 pct; Nasdaq up 1.8 pct

By Angela Moon

NEW YORK, March 4 (Reuters) - U.S. stocks rallied on Tuesday, with the S&P 500 closing at a record as concerns about a confrontation between Russia and Ukraine eased, and the market recovered more than all of the previous session's hefty losses.

President Vladimir Putin delivered a robust defense of Russia's actions in Crimea on Tuesday, saying he would use force in Ukraine only as a last resort. His comments relieved investors' fears that East-West tension over the former Soviet republic could lead to war.

The day's gains followed Wall Street's worst day in a month, when investors sold stocks and other risky assets as tensions escalated between Ukraine and Russia. Global stocks rebounded on Tuesday while gold, the Japanese yen and Treasuries prices fell. Crude oil prices, up more than 2 percent on Monday, reversed some of that session's gain in trading on Tuesday.

"Monday's selling and Tuesday's stark reversal have become commonplace in traders' calendars in 2014," said Andrew Wilkinson, chief market analyst at Interactive Brokers LLC in Greenwich, Connecticut.   Continuación...