S&P 500 Wipes Out Gain in Last Stretch of Trading: Markets Wrap

Wall Street stocks erased gains in the last hour of trading on Wednesday, as a fresh bout of volatility gripped the market. Earlier, stocks had risen on slower-than-anticipated inflation data, but the rally faded in the final stretch. The S&P 500 wiped out its gain, closing lower, reflecting investor uncertainty despite the favorable inflation report.