U.S. Stocks Snap Three-Day Rally Amid German Selloff, Jobs Data

U.S. stocks fell, snapping a three-day rally, after jobless claims unexpectedly increased and selling in German futures sparked a rout in global equities.

Financial shares in the Standard & Poor’s 500 Index erased a gain of as much as 4.8 percent. Bank of America Corp., the biggest U.S. lender, surged 9.4 percent after saying Warren Buffett’s Berkshire Hathaway Inc. will invest $5 billion to bolster the company. Apple Inc. decreased 0.7 percent after Steve Jobs resigned as chief executive officer.