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Afternoon Rally Fizzles on CNBC Report

But stocks closed higher overall
By Newser Editors and Wire Services
Posted Mar 25, 2020 3:15 PM CDT
Afternoon Rally Fizzles on CNBC Report
In this image provided by Jonathan Corpina, Jonathan Corpina, Senior Managing Partner at Meridian Equity Partners Inc., who normally works on the New York Stock Exchange trading floor, works in his home office in Armonk, NY., Wednesday, March 25, 2020.   (Danielle Corpina/Courtesy Jonathan Corpina via AP)

(Newser) – Stocks are closing higher on Wall Street Wednesday but gave up much of an afternoon rally after CNBC reported that a dispute between Sen. Bernie Sanders and Republicans over unemployment aid could cause the coronavirus aid bill to be delayed, the AP reports. The S&P 500 rose 1.2% after being up 5.1% earlier on hopes the package would be passed soon. It was the first back-to-back gain since the outbreak set off a brutal sell-off five weeks ago. The market is down by about a quarter from its record high set last month. Investors expect markets to remain volatile until the number of new cases peaks.

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