European markets have also lost some of their earlier gains.
Stocks were lower yesterday after early gains in moderate trading.
Despite early gains the offensive was far too ambitious in scope.
Technology and health-care stocks made early gains, but gave them all back toward the close, he noted.
The market's recent losses have wiped out much of the year's earlier gains, especially among smaller stocks.
The early gain was attributed to the producer prices report.
When this result was published, the bond market gave up its early gains.
That group missed the early gains, but suffered the later losses.
The euro has reversed earlier gains and is at $1.3044, down on the day.
But against the German mark, the dollar retreated from earlier gains.