U.S. Stocks End Lower After Flucutating With Oil Prices

Volatility surged in the U.S. equity market as the Dow Jones Industrial Average erased both a 282-point rally and a 143-point decline, then slipped again in the final minutes to close lower.

U.S. stocks swung between gains and losses as oil prices fluctuated near the lowest level in five years, while copper plunged. An S&P index of homebuilders tumbled as KB Home sank the most in 22 years after saying its first-quarter profit will miss analysts’ estimates. Ocwen Financial Corp., one of the biggest U.S. mortgage servicers, fell the most ever after a newspaper reported that California is seeking to suspend its license. Freeport-McMoRan Inc. and Newmont Mining Corp. slumped more than 3.9 percent.