U.S. Stocks Pare Losses as Markets Swing With Commodities

Volatility surged in the U.S. equity market, with the Dow Jones Industrial Average erasing both a 282-point rally and a 143-point decline to close lower for a third day amid a slump in commodity prices. Copper slid with crude oil and the euro, while Treasuries advanced.

The Chicago Board Options Exchange Volatility Index, which tracks expectations of U.S. stock swings, climbed a third day, adding 4.9 percent by 4:15 p.m. in New York. The Dow ended the session down 0.2 percent, while the Standard & Poor’s 500 Index fell 0.3 percent, after earlier jumping as much as 1.4 percent. Copper sank to its lowest price since 2009 as Brent oil fell 1.8 percent to $46.59 a barrel, briefly trading below U.S. crude for the first time in 1 1/2 years. The euro slumped to a nine-year low on bets policy makers will ramp up stimulus, while yields on 10-year Treasuries fell to match a 20-month low.