Pursuits
U.S. Stocks Erase Gain on Greece Concerns as Facebook Tumbles
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U.S. stocks erased gains in the final hour of trading as concern that Greece would exit the euro and a tumble in Facebook Inc. shares overshadowed economic optimism.
Commodity and technology shares in the Standard & Poor’s 500 Index fell, while financial companies gained. Facebook slumped 8.9 percent, dropping 19 percent in two days. A gauge of homebuilders in S&P indexes rose 1.9 percent amid a better-than-estimated housing report. Best Buy Co. rallied 1.6 percent after reporting first-quarter profit that exceeded estimates. Dell Inc. tumbled 12 percent at 5:43 p.m. New York time after forecasting revenue that missed analysts’ projections. S&P 500 June futures dropped 0.6 percent as of 2:50 p.m. in Tokyo.