Nasdaq climbs 3%, Dow rises 2% on bargain hunting, easing oil prices

S&P 500 financials top S&P sectoral gainer; energy shares fall after strong rally this week

The tech-heavy Nasdaq surged 3% on Wednesday, leading a rally on Wall Street as sharp losses this week from worries over the fallout of the Ukraine crisis saw investors scoop up beaten-down stocks, with sentiment lifted by a pullback in oil prices.

Reflective of the broad-based advance, nine of the 11 major S&P sectors rose. Financials climbed 4% - tracking its best day since January 2021 - after declining 6.3% in the past four sessions on concerns over the impact of Western sanctions on Russian banks, assets and individuals over its invasion of Ukraine.

The S&P 500 banks index added 4.9%, powered