U.S. Stocks Close Lower After Late-Day Rally
- Late-day rally led by small-caps, health-care pares selloff
- S&P 500 Index closes at lowest level since April 2014
Global Stocks Are on the Brink of a Bear Market
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U.S. stocks fell, with the Standard & Poor’s 500 Index reaching a 21-month low, following a renewed selloff across stocks worldwide as skepticism about the strength of the global economy intensified.
A late-day rally paced by health-care and small-cap shares helped trim declines, with the Nasdaq Composite Index briefly erasing a drop of as much as 3.7 percent. The Dow Jones Industrial Average and S&P 500 cut their worst losses by more than half. Energy companies sank further into five-year lows as oil plunged. International Business Machines Corp. fell to the lowest since 2010 after its earnings forecast missed projections.