Stocks claw higher worldwide; oil prices crawl off the floor
By STAN CHOE and DAMIAN J. TROISE AP Business Writers
NEW YORK (AP) — Stocks around the world are clawing higher on Wednesday, and the S&P 500 climbed toward the first gain of what’s been a dismal week for markets. Even the oil market turned higher. U.S. oil prices jumped 21% after President Donald Trump threatened the destruction of any Iranian gunboats that harass U.S. Navy ships, raising the possibility of a disruption to oil supplies. The S&P 500 was up 2.3% in afternoon trading, following milder gains in Europe and Asia. Energy stocks jumped to the biggest gains. Treasury yields also ticked higher in a sign of a bit less pessimism in the market.