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Stocks step back, oil bounces as peace talks stall

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FILE PHOTO - Monitors displaying the stock index prices and Japanese yen exchange rate against the U.S. dollar are seen at the Tokyo Stock Exchange in Tokyo

SINGAPORE, March 18 (Reuters) - Stockmarkets took a breather on Friday after several days of sizeable gains, as geo-political tensions arising from the Ukraine conflict kept investors on guard going into the weekend.

After a fourth straight day of talks between Russian and Ukrainian negotiators without tangible progress, earlier hopes for a peace deal have begun to wane and oil prices have begun climbing again. 

Adding to the mix, U.S. President Joe Biden is expected to deliver a warning that Beijing will pay a price if it supports Russia's war effort when he speaks to China's President Xi Jinping in a call scheduled for 1300 GMT.

Read more from: https://www.reuters.com/business/global-markets-wrapup-1pix-2022-03-18/

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