U.S. Stocks Erase Gain; Financial Shares Lead Retreat on Subprime Concern

(Bloomberg) -- U.S. stocks declined, erasing a
rally, after financial shares tumbled on speculation losses will
worsen on loans tied to subprime mortgages.

The Standard & Poor's 500 Index fell 5.1, or 0.3 percent,
to 1497.46 at 2:46 p.m. in New York. Earlier, the gauge rose 0.8
percent. The Dow Jones Industrial Average dropped 19.68, or 0.2
percent, to 13,340.58. The Nasdaq Composite Index declined 12.6,
or 0.5 percent, to 2576.36.


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