U.S. stocks erased gains as a slump in oil sank energy shares, overshadowing a rally in Apple Inc. amid concern the rout that’s wiped out $2 trillion in global equity value the past week isn’t over. Treasuries advanced, while the dollar retreated.
The S&P 500 Index turned lower in afternoon trading Wednesday as selling spread from oil and gas producers to the broader market, even as Apple climbed to a five-month high. U.S. crude slid to a two-week low while copper jumped. Treasury yields retreated with rates on most European sovereign debt after surging on concern central banks are turning less accommodative.
