European Stocks Erase Gains as Investors Sell Pandemic Winners

European equities erased gains to end little changed as investors sold the biggest winners of the past six months’ rally and as the Federal Reserve chair warned of a weak U.S. recovery without sufficient government aid.

The Stoxx Europe 600 Index ended flat, wiping out an advance of as much as 0.5%. Technology and health-care stocks, among investor favorites since the market started recovering in March, led declines on Tuesday. By contrast, banks and travel and leisure shares, some of this year’s worst performers, led gains. Energy shares also outperformed as oil rose.