Wall Street eyes rebound, European stocks surge on diplomacy

NEW YORK (AP) — Wall Street futures rebounded Wednesday and European shares rose sharply as investors watched diplomatic efforts to end Russia’s attack on Ukraine, while Asian markets sank after Chinese inflation accelerated. Futures for Wall Street’s S&P 500 index rose 1.8% and the same for the Dow Jones Industrial Average climbed 1.6% after the market slid Tuesday. Those declines carried over into Asia, where markets in Shanghai, Tokyo and Hong Kong slipped amid enduring unease about the war’s global impact, but investors seemed more optimistic by the time European markets opened. Benchmark U.S. crude fell $3.73 to $119.97 per barrel.