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AP National Business

Stocks rise on Wall Street after oil prices tumble again

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KMIZ

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Published 8:54 AM

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stocks are ticking higher on Wall Street Tuesday as inflation worries ebb a bit and oil prices slide. The S&P 500 was 0.7% higher in early trading after a report showed inflation’s rapid acceleration took a pause at the wholesale level last month. The wilder action was in oil and Asian stock markets, where tightening anti-COVID measures in China are raising worries. Oil tumbled more than 8%, and a barrel of U.S. crude fell below $95. Stocks in Hong Kong sank more than 5% for a second straight day. Treasury yields fell as the Federal Reserve starts a highly anticipated two-day meeting on rates.

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