Economics
S&P 500 Erases Year’s Best Rally as Oil Sinks, Gold Jumps
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The Standard & Poor’s 500 Index wiped out its biggest rally of the year as small-caps tumbled with oil amid concern over Europe’s economy. Gold rose on bets the largest economies will keep interest rates low.
The S&P 500 fell 2.1 percent at 4 p.m. in New York, the biggest drop since April, after rallying 1.7 percent yesterday. The Russell 2000 Index of smaller companies tumbled 2.7 percent, the also most since April. West Texas Intermediate crude dropped