MTS Help Center

U.S. stocks erased gains as a slump in oil sank energy shares, overshadowing a rally in Apple Inc. amid concern the rout that’s wiped out $2 trillion in global equity value the past week isn’t over. Treasuries advanced, while the dollar retreated.

The S&P 500 Index turned lower in afternoon trading Wednesday as selling spread from oil and gas producers to the broader market, even as Apple climbed to a five-month high. U.S. crude slid to a two-week low while copper jumped. Treasury yields retreated with rates on most European sovereign debt after surging on concern central banks are turning less accommodative.

The S&P 500 fell 0.1 percent to 2,125.77 as of 4 p.m. in New York, erasing an advance of as much as 0.7 percent during the session. Energy companies were the worst performers, falling for a second day as crude fell on concern a drop in U.S. stockpiles will prove temporary. Apple jumped 3.5 percent amid positive sentiment around the latest version of its iPhone.

Asian stocks fell for a sixth day, the longest losing streak since May, as the outlook for global central bank stimulus grew uncertain. Japanese banks weighed on the region’s benchmark equity index amid concern the country will deepen its negative interest rate policy.

The MSCI Asia Pacific Index lost 0.3 percent to 136.21 as of 9:08 a.m. in Tokyo. The gauge is trading at the lowest level in five weeks after valuations this month climbed to the highest in more than a year and investors placed a higher probability of less monetary stimulus globally.