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Stocks open about 1% higher on Wall Street in more volatile trading amid uncertainty over economic pain of coronavirus

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Posted at 6:48 AM, Mar 30, 2020
and last updated 2020-03-30 09:48:10-04

NEW YORK (AP) — Stocks are opening higher on Wall Street Monday in more volatile trading as investors try to assess whether global authorities can do enough to nurse the economy through the damage caused by the coronavirus outbreak.

The S&P 500 rose 1% in early trading.

European markets were mixed after erasing earlier losses. Asian indexes also fell, but not nearly as much as they have in the brutal swings that have rocked investors over the last month.

The price of oil fell 6% to $20 a barrel, a level that is sure to cause more pain for the already battered energy industry.