NEW YORK (AP) — Stocks are falling modestly in early trading on Wall Street as investors close out a brutal first quarter.

The S&P 500 dipped by less than 1% in the first few minutes of trading, extending its loss for the first three months of the year to more than 19%. Asian markets rose earlier in the day following a stronger-than-expected report on China's economy, where the spread of the coronavirus has slowed. But momentum stalled in Europe, where the number of deaths jumped in Spain.

The surge of coronavirus cases has sent markets tumbling since mid-February, halting what had been a good start to the year.