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U.S. Stocks Rally After Opening-Day Rout While Oil Resumes Slide

  • S&P 500 reverses declines, even as iPhone report sinks Apple
  • Anxiety over U.S. supplies sends WTI crude to two-week low
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Chinese Equities: More Volatility in 2016?

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U.S. stocks staged an afternoon comeback in a bid to rebound from their worst start to a year since 2001 after China intervened to stabilize its financial markets. The euro slumped to its lowest point in a month and American oil slid below $36 a barrel.

The Standard & Poor’s 500 Index erased an earlier decline to end Tuesday up 0.2 percent as telephone companies and utilities rallied. Apple Inc., the world’s most valuable company, fell to its lowest level since October on a report that it may reduce production of an iPhone model. Emerging-market shares meandered after Monday’s slump, while signs of disinflation in Europe sent the euro lower versus the dollar for a fourth day.