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AP National Business

Asia stocks surge, Europe opens lower after oil prices rise

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Published 3:19 AM

By JOE McDONALD
AP Business Writer

BEIJING (AP) — Asian markets have surged while Europe opened lower after oil prices recovered some of a decline the day before that had eased inflation fears. Futures for Wall Street’s benchmark S&P 500 index and the Dow Jones Industrial Average were down 0.4% amid jitters over Russia’s attack on Ukraine. Markets rallied Wednesday after oil plunged, but economists warned that was due to changes in futures contracts and other factors, not war developments. On Thursday, prices rebounded by nearly $6 per barrel in London and nearly $4 in New York. Forecasters warned markets will stay volatile. Russian and Ukrainian foreign ministers were meeting in Turkey for negotiations.

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