NEW YORK (TheStreet) -- Global markets followed Russian assets higher as tension in the former Soviet Union calmed on Tuesday.
In his first news conference since tension began to rise, Russian President Vladimir Putin said that force was not needed in Crimea yet and would be used only as a last resort. The comments eased market fear, leading to a rebound in Market Vectors Russia ETF (RSX) and iShares JPMorgan USD Emer Mkt Bnd (EMB) after a panic selloff on Monday.
The reversal in U.S. equities signals that investors arn't ready to give up on bidding the market higher, even as indices trade at record levels.
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