Dow Average Erases 2012 Rally Amid Disappointing Economic Data

U.S. stocks fell the most since November, erasing the Dow Jones Industrial Average’s 2012 advance, as American employers added the fewest workers in a year and reports signaled global manufacturing was slowing.

All 10 groups in the Standard & Poor’s 500 Index retreated as the gauge extended a drop from its April high to 9.9 percent. The KBW Bank Index slumped 4.9 percent. Bank of America Corp., Apple Inc. and Boeing Co. sank at least 2.9 percent. A measure of homebuilders in S&P indexes tumbled 7.8 percent. Newmont Mining Corp. rallied 6.7 percent as gold climbed the most since August on bets for measures to stimulate the U.S. economy.