U.S. stocks fell, with the Standard & Poor’s 500 Index struggling to hold its gain for the year in 2015’s penultimate session, as energy companies followed oil lower and a slide in Apple Inc. weighed on technology shares.
The S&P 500 slipped 0.7 percent to 2,063.30 at 4 p.m. in New York, after rallying 1.1 percent Tuesday to the highest since Dec. 4. A late selloff today halted at the gauge’s average price during the past 200 days.
If the S&P 500 closes 2015 higher, it will be its fourth consecutive annual gain, while a loss would make it the worst year since 2008. The index has risen as much as 3.5 percent in the year and was down 9.3 percent at its low in August. It’s 3.2 percent away from an all-time high set in May.
U.S. stocks are defying the historical trend of rallies in the final month of the year. The S&P 500 is on track for its second December drop since the financial crisis, down 0.8 percent, after a series of sharp increases and selloffs. The benchmark is up just 0.2 percent for the year, fluctuating throughout December on the back of the Federal Reserve’s first interest-rate rise in almost a decade.
Source : Bloomberg