Stocks Halt Rally as Weak Bond Sale Lifts Yields: Markets Wrap

Wall Street halted a rally that drove stocks to the brink of a record amid concerns about an overheated market. Treasuries lost steam as a weak sale of 30-year debt signaled waning appetite after a bond surge.

Following an almost 30% advance from its April lows, the S&P 500 closed little changed. A gauge of chipmakers jumped, but Intel Corp. slipped 3% as President Donald Trump called on its chief to resign, citing conflicts of interest. Eli Lilly & Co. tumbled 14% after disappointing data on its new weight-loss pill. Apple Inc. extended a two-day gain to about 8.5%.