* Putin says use of military force would be last resort
* RadioShack closing 1,100 stores after sales tumble 20 pct
* S&P 500 up 1.4 percent for the year
* Dow up 1.4 pct; S&P 500 up 1.5 pct; Nasdaq up 1.8 pct
NEW YORK, March 4 (Reuters) - U.S. stocks rallied on Tuesday, with the S&P 500 closing at a record as concerns about a confrontation between Russia and Ukraine eased, and the market recovered more than all of the previous session's hefty losses.
President Vladimir Putin delivered a robust defense of Russia's actions in Crimea on Tuesday, saying he would use force in Ukraine only as a last resort. His comments relieved investors' fears that East-West tension over the former Soviet republic could lead to war.
The day's gains followed Wall Street's worst day in a month, when investors sold stocks and other risky assets as tensions escalated between Ukraine and Russia. Global stocks rebounded on Tuesday while gold, the Japanese yen and Treasuries prices fell. Crude oil prices, up more than 2 percent on Monday, reversed some of that session's gain in trading on Tuesday.
"Monday's selling and Tuesday's stark reversal have become commonplace in traders' calendars in 2014," said Andrew Wilkinson, chief market analyst at Interactive Brokers LLC in Greenwich, Connecticut.
"Investors have clearly got an appetite for equities displaying strong momentum, no matter whether geopolitical risks or fears for the health of the recovery stand in their path."
The CBOE Volatility Index, Wall Street's fear barometer, slid 11.9 percent to end at 14.10 on Tuesday. That was a sharp reversal from Monday, when the VIX rose 14 percent.
The Dow Jones industrial average jumped 227.85 points or 1.41 percent, to end at 16,395.88. The S&P 500 gained 28.18 points or 1.53 percent, to finish at 1,873.91. The Nasdaq Composite climbed 74.671 points or 1.75 percent, to close at 4,351.972.
The S&P 500 ended at a record high for the second time since Friday, when the broad index finished February with a milestone. In Tuesday's session, industrials and financials ranked among the biggest gainers. The benchmark index is up 1.4 percent for the year.
The Wilshire 5000 Index closed above 20,000 for the first time. The index has gained 193.55 percent or $15.9 trillion from its low on March 9, 2009, after the financial crisis.
"The longer-term trend of the U.S. equity indexes remains positive," but short-term indicators "remain overbought and are peaking as most indexes rally back to resistance at their 2014 highs," said Robert Sluymer, an analyst at RBC Capital Markets, LLC in New York.
Walt Disney Co shares hit a record intraday high after reaching a deal with Dish Network that lets the No. 2 satellite TV provider carry Disney-owned networks such as ABC and ESPN, and deliver the content outside of a traditional TV subscription. Disney shares rose 2.8 percent to close at $81.71, after hitting an all-time intraday high of $82.17.
Qualcomm Inc rose 3.4 percent to end at $76.11, off an all-time intraday high of $76.79 reached on Tuesday. The world's biggest cellphone chip maker raised its stock-buyback authorization by $5 billion to $7.8 billion, and increased its cash dividend by 20 percent.
Shares of RadioShack Corp plunged 17.3 percent to $2.25. The struggling retailer said it would close up to 1,100 U.S. stores after a huge drop in holiday sales.
About 7.4 billion shares changed hands on U.S. exchanges, slightly lower than the 7 billion average for the past month, according to data from BATS Global Markets.
Advancers beat decliners by a ratio of about 5 to 1 on the New York Stock Exchange, while on the Nasdaq, more than four stocks rose for every one that fell.
Our 2024 Coverage Needs You
It's Another Trump-Biden Showdown — And We Need Your Help
The Future Of Democracy Is At Stake
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
HuffPost believes news should be accessible to everyone, regardless of their ability to pay for it. We rely on readers like you to help fund our work. Any contribution you can make — even as little as $2 — goes directly toward supporting the impactful journalism that we will continue to produce this year. Thank you for being part of our story.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
It's official: Donald Trump will face Joe Biden this fall in the presidential election. As we face the most consequential presidential election of our time, HuffPost is committed to bringing you up-to-date, accurate news about the 2024 race. While other outlets have retreated behind paywalls, you can trust our news will stay free.
But we can't do it without your help. Reader funding is one of the key ways we support our newsroom. Would you consider making a donation to help fund our news during this critical time? Your contributions are vital to supporting a free press.
Contribute as little as $2 to keep our journalism free and accessible to all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you'll consider contributing to HuffPost once more.
Support HuffPostAlready contributed? Log in to hide these messages.