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U.S. Stocks Fall as Senate Rejects Plans Replacing Sequester

U.S. Stocks Fall as Senate Rejects Plans Replacing Sequester
Traders work on the floor of the New York Stock Exchange. Photographer: Scott Eells/Bloomberg

U.S. stocks erased gains in the final half hour of trading after the Senate rejected a pair of partisan proposals to replace $85 billion in automatic spending cuts scheduled to start tomorrow.

The Standard & Poor’s 500 Index closed down 0.1 percent at 1,514.56 at 4 p.m. in New York after rising as much as 0.6 percent earlier.

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