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Dow jumps over 600 points in early trade as oil prices back off nearly 14-year highs

U.S. stocks opened with sharp gains Wednesday, finding support as oil futures pulled back from nearly 14-year highs while investors monitor developments in the Russia-Ukraine war. The Dow Jones Industrial Average was up 606 points, or 1.9%, at 33,242, whiel the S&P 500 jumped 2% to 4,254. The Nasdaq Composite rallied 2.3% to 13,089. The U.S. crude benchmark was down more than 5% at $117.20 a barrel after closing Tuesday at its highest since July 2008.

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