U.S. stocks declined, amid a second day of losses for the Standard & Poor’s 500 Index, as equities followed a global bond selloff.
Intel Corp. lost 1.5 percent as semiconductors led technology shares lower. Morgan Stanley and American Express Co. declined more than 1 percent as financial companies fell. Chesapeake Energy Corp. and Transocean Ltd. paced an advance in energy amid oil’s rebound. Verizon Communications Inc. slipped 0.8 percent after agreeing to buy AOL Inc. in a deal valued at $4.4 billion. AOL jumped 18 percent.
The S&P 500 fell 0.4 percent to 2,096.50 at 12:15 p.m. in New York. The gauge pared an earlier 0.9 percent drop as Treasuries erased losses. The Dow Jones Industrial Average decreased 64.63 points, or 0.4 percent, to 18,040.54. The Nasdaq Composite Index dropped 0.5 percent after earlier losing more than 1 percent. The yield on 10-year notes earlier reached a five-month high before falling.