U.S. stocks slipped, with the Standard & Poor’s 500 Index holding near its lowest since April 2014 while the Nasdaq Composite Index edged closer to a bear market, amid declines in energy and technology shares.
Equity markets are attempting to stabilize after the Nasdaq Composite Index’s worst two-day selloff since August, and an early drop Tuesday that brought it within 1 percent of a bear market. Whipsaw moves in technology, consumer, health-care and industrial companies sent stocks careening between gains and losses throughout the session. Raw-material companies rallied amid weakness in the dollar, while energy sank with oil prices.
The S&P 500 slipped 0.1 percent to 1,852.36 at 4 p.m. in New York, after erasing an early 1 percent loss and climbing as much as 0.8 percent. The Nasdaq Composite Index fell 0.4 percent after lurching between gains and losses.
Source : Bloomberg