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 shares followed oil lower and a slide in Apple Inc. weighed on technology shares.
Chevron Corp. and Anadarko Petroleum Corp. sank at least 1.2 percent, amid reports showing crude stockpiles increased. Apple lost 1.1 percent after a person familiar with the matter said it paid $348 million to settle an Italian tax claim. Pep Boys declined 2.9 percent after Bridgestone Corp. declined to match Carl Icahn’s takeover offer of more than $1 billion for auto-parts retail chain.
The S&P 500 slipped 0.3 percent to 2,071.32 at 12 p.m. in New York, after rallying 1.1 percent Tuesday to the highest since Dec. 4. The Dow Jones Industrial Average lost 48.86 points, or 0.3 percent, to 17,672.12. The Nasdaq Composite Index retreated 0.4 percent. Trading in S&P 500 shares was 46 percent below the 30-day average for this time of day.