Wall Street's rally fizzles as oil prices suddenly plunge
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April 8, 2020
NEW YORK (AP) — A big rally on Wall Street suddenly vanished Tuesday, undercut in part by another plunge in the price of oil.
The S&P 500 dipped 0.2% after erasing a surge of 3.5% earlier in the day. The market's gains faded as the price of U.S. crude oil abruptly flipped from a gain to a steep loss of more than 9%.
It dampened what had been an ebullient day for markets worldwide, following up on Monday's 7% surge for the S&P 500 on encouraging signs that the coronavirus pandemic may be close to leveling off in some of the hardest-hit areas of the world.
Even though economists say a punishing...
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