Stocks drift, still headed to worst quarter since 2008

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NEW YORK (AP) — Stocks are drifting in morning trading on Wall Street after erasing earlier losses, as investors close out a brutal first quarter.

The S&P 500 was up by 0.1%, but it’s still headed for a loss of nearly 18% for the first three months of the year.

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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.