Stock Vulnerability Exposed During Biggest Reversal in 14 Months
- S&P 500 erased 0.8 percent gain amid valuation, tax concern
- Equities initially boosted by bullish payrolls report
Kleinwort Hambros CIO Says S&P 500 Is Overvalued
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From the best day in three weeks to one of the worst.
Such was the roller coaster investors rode Wednesday, when the S&P 500 Index advanced as much as 0.8 percent before wiping out the gain in the last two hours to end 0.3 percent lower. In the end, it was the biggest reversal of its kind since February 2016.