Wall Street opened higher on Friday after Russian President Vladimir Putin denied further plans for more troop mobilization in the Ukraine conflict.
However, the market later tumbled after major banks reported a drop in earnings.
Putin’s earlier announcement to partially mobilize 300,000 reservists sparked panic in global markets last month.
Putin told reporters—following a summit in Kazakhstan on Friday—that now nothing additional is being planned.
“No proposals have been received from the defense ministry and I don’t see any additional need in the foreseeable future,” he said reported The Financial Times. “Now 222,000 people have been mobilized out of 300,000. Within about two weeks, all mobilization activities will be completed.”…