"The fear is that the economy is heading for recession once again, not helped by events in Ukraine and the potential for further sanctions to negatively impact in the current quarter," wrote Simon Smith, chief economist at FxPro.
4. Wednesday market recap: U.S. stocks closed higher Wednesday. The Nasdaq jumped more than 1% and the S&P 500 was up about 0.7%. The Dow Jones Industrial Average gained 91 points, landing back in positive territory for the year.