The reprieve lifted the S&P 500 and Nasdaq by 3.3 percent and 4.4 percent, respectively. And the Dow exited correction territory — meaning it has climbed 10 percent from its recent low.

Kyiv forces do not occupy any of Russia’s territory, meaning there could be no deal regarding returning Moscow its land.

Ukraine could agree to stop fighting and cede territory already held by Russia as part of a European-backed plan for peace.

What is correction territory? Correction territory is generally understood to mean a stock market indicator has dropped at least 10% from its recent market high.