S&P 500 Erases 2014 Gain as China, Ukraine Offset Economy stocks fell, erasing this year’s gains for the Standard & Poor’s 500 Index, as weaker-than-forecast data from China and tension in Ukraine overshadowed reports showing an improving American economy. United Technologies Corp., Pfizer Inc. and American Express Co. tumbled more than 2.4 percent as all 30 members of the Dow Jones Industrial Average (INDU) declined. An S&P gauge of homebuilders lost 2.4 percent, falling for a seventh straight day. Dollar General Corp. slipped 2.8 percent as it forecast earnings below analyst estimates. The S&P 500 fell 1.2 percent to 1,846.34 at 4 p.m. in New York. The benchmark index reversed earlier gains after climbing to within four points of its closing record of 1,878.04 reached on March 7. The Dow dropped 231.19 points, or 1.4 percent, to 16,108.89. Both gauges had their biggest declines since Feb. 3
Posted on: Fri, 14 Mar 2014 02:16:03 +0000
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