Stocks slump on Wall Street as oil, inflation worries rise

By STAN CHOE and ALEX VEIGA
AP Business Writers

NEW YORK (AP) — Stocks slipped on Wall Street Thursday as markets remain choppy amid uncertainty about where inflation, interest rates and the global economy are heading. The S&P 500 fell 0.6%, on pace for its fifth drop in the last six days. It marks another reversal for U.S. stocks, which just a day earlier surged to their biggest gain since June 2020. Oil prices had their own swings, with a barrel of U.S. crude jumping as much as 5.7%, before flip-flopping between gains and losses. The worry in markets is the economy may be set to struggle under a toxic cocktail of persistently high inflation and slowing growth.