Wall Street opens sharply higher, crude oil prices pull back

NEW YORK (AP) — Stocks are opening sharply higher and signs of fear on markets are easing in early trading on Wall Street Wednesday. The early rally sent the S&P 500 up 1.9% after four days of losses. Investors were relieved to see a 5% decline in oil prices, whose recent surge had raised worried that the inflation already gripping global economies could get worse. In other signs of improving sentiment, prices for safe-harbor assets like gold and ultra-safe U.S. government bonds fell. European markets were also sharply higher and Asian markets closed lower. Russian stock trading remained closed.