NEW YORK (AP) — Stocks are climbing on Wall Street Tuesday as inflation worries ebb and oil prices slide.
The S&P 500 was 2% greater in afternoon buying and selling after a report confirmed inflation’s speedy acceleration paused on the wholesale degree final month.
The wilder motion was in oil and Asian inventory markets, the place tighter anti-COVID measures in China are elevating worries.
Oil tumbled greater than 6%, and a barrel of U.S. crude fell beneath $97. Stocks in Hong Kong sank greater than 5% for a second straight day.
Treasury yields have been blended as the Federal Reserve begins a extremely anticipated two-day assembly on charges.