Most U.S. stocks fell, wiping out an earlier rally, as Dell Inc. forecast weaker sales and two Federal Reserve officials warned against applying too much stimulus to the economy. Treasuries, commodities and the Swiss franc climbed. About 21 stocks retreated for every 20 that advanced on U.S. exchanges. The Standard & Poor’s 500 Index rose 0.1 percent to 1,193.88 at 4 p.m. in New York, after jumping as much as 1.3 percent and falling as much as 0.7 percent. The yield on 30-year Treasury bonds dropped 11 basis points after stocks erased their rally. The S&P GSCI index of 24 commodities advanced 1 percent as oil jumped 1.1 percent. The franc strengthened against most of its 16 major peers.
Technology shares fell the most among S&P 500 groups, losing 0.9 percent as Dell said slower spending on PCs and consumer technology crimped its sales forecast. Charles Plosser and Richard Fisher, two Fed officials who dissented from the central bank’s latest policy statement, spoke out against unnecessary stimulus measures. The Swiss National Bank said it will expand liquidity, refraining from tougher moves such as adopting a currency target.
