U.S. President Joe Biden and European Commission President Ursula von der Leyen announced the formation of a task force to reduce Europe's reliance on Russian oil.
Global stocks clenched to their gains for the week on Friday, but rising interest rates, high oil prices, and the Russia-Ukraine kept the rebound at bay as yields sent a warning signal for the economy.
Extreme volatility in the U.S. stock market continued on Wednesday as the S&P 500 gave up early morning gains and dipped back into negative territory once again in mid-day trading.