A late slide erases a rally in US stocks as trading remains volatile; oil price stabilizes

NEW YORK, N.Y. – U.S. stocks are ending slightly lower after an early rally fizzled.

At the end of an up-and-down day Tuesday the Dow Jones industrial average lost 111 points, or 0.7 per cent, to close at 17,068. It had been up as much as 246 points at midday before turning lower in the afternoon.

The Standard & Poor’s 500 fell 16 points, or 0.9 per cent, to 1,972. The Nasdaq lost 57 points, or 1.2 per cent, to 4,547.

Consumer discretionary stocks led the declines. Energy companies rose as investors were relieved to see the price of oil stabilize after a prolonged rout.

Russia’s ruble regained some ground against the dollar after that country’s central bank sharply raised interest rates in an effort to halt the currency’s slide.