Stocks Opened Higher after Torrid Selloff

U.S. stocks opened higher on Wednesday, as the major indices look to snap a four-day losing streak. The Dow Jones Industrial Average lately rose 292.12 points, or 1.08%, to 27,373.48. The S&P 500 climbed 35.11 points, or 1.12%, to 3,163.32. The Nasdaq Composite advanced 122.36 points, or 1.36%, to 9,087.98.

Oil prices fell Wednesday, sending the U.S. benchmark to a 13-month low, as the spread of COVID-19 outside China fed worries over demand for crude. West Texas Intermediate crude for April delivery fell 72 cents, or 1.4%, to $48.18 a barrel. May Brent crude dropped $1.01, or 1.9%, to $53.25 a barrel.

Alphabet Inc’s Google said on Wednesday it would invest more than $10 billion in offices and data centers across the United States this year.