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U.S. Stocks Erase Gains as Optimism Over Jobs Report Fades

U.S. stocks erased gains, after an early rally among benchmark indexes, as optimism about an unexpected drop in the American unemployment rate faded and Apple Inc. shares slumped.

Apple tumbled 2.1 percent, helping to reverse an early advance among technology shares. Bank of America Corp. dropped 1 percent after surging as much as 2.6 percent. Zynga Inc. slid 12 percent after cutting its forecast for full-year bookings. Avon Products Inc. climbed 7.2 percent as the door-to-door cosmetics seller said Andrea Jung will step down as executive chairman.