Let's Call the Whole Thing Off

Traders work on the floor of the New York Stock Exchange. Photograph by Spencer Platt/Getty Images

The Standard & Poor’s 500 index lost 1.3 percent to 1,308.93 at 4 p.m. in New York, after climbing as much as 0.7 percent in the first minutes of trading. Futures on the gauge surged as much as 1.5 percent before U.S. markets opened. The euro weakened 0.3 percent to $1.2484, after surging 1.2 percent. Oil fell to an eight-month low, reversing a 3 percent jump, and the S&P GSCI Index of commodities slid 1 percent. Ten-year Treasury note yields decreased 5 basis points to 1.59 percent, after surging 9 basis points earlier.

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