S&P 500 Erases Drop as Small-Caps Rally; Yen to Treasuries Climb

The Standard & Poor’s 500 Index reversed losses as a rebound in small-cap shares blunted the impact of a global equity selloff. The yen gained with gold and Treasuries as concern over Chinese growth and potential political turmoil in Greece boosted demand for haven assets.

Forty more stocks rose as fell on the S&P 500, which closed down less than 0.1 percent at 2,059.82 by 4 p.m. in New York, after earlier sliding as much as 1.3 percent. The Russell 2000 Index of smaller companies jumped 1.8 percent. European shares slipped as Greece’s stock index tumbled the most since 1987. The Shanghai Composite Index sank 5.4 percent and Brazil’s Ibovespa neared a bear market. Gold futures rose to a six-week high as the yen surged the most in 18 months versus the dollar. Yields on 10-year Treasuries fell four basis points to 2.21 percent.