Wall Street in remarkable turnaround after rising rate fears, Russia/Ukraine tensions spark earlier selloff

There's been a remarkable swing-around on Wall Street after earlier steep losses sparked by fears about inflation and the likelihood of rising interest rates.

The selloff was amplified by escalating signs that a Russian invasion of Ukraine is imminent.

After diving more than two percent, the Dow Jones Industrial Average closed a third of one percent higher.

I spoke with Thomas Oriti on ABC NewsRadio