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Stocks gave up an early rally and briefly went negative as big swings rocked Wall Street for a second straight day. The S&P 500 erased nearly all of a 4% gain by early afternoon and was up just 0.2%.

It does not necessarily reflect the view of The Herald. Stocks gave up an early rally and briefly went negative as big swings rocked Wall Street for a second straight day. The S&P 500 erased ...

It does not necessarily reflect the view of The Herald. Stocks gave up an early rally and briefly went negative as big swings rocked Wall Street for a second straight day. The S&P 500 erased nearly ...

Stocks gave up an early rally and briefly went negative as big swings rocked Wall Street for a second straight day. The S&P 500 erased nearly all of a 4% gain by early afternoon and was up just 0.2%.

A Wall Street sign outside the New York Stock Exchange (Martin Keene/PA) Stocks gave up an early rally and briefly went negative as big swings rocked Wall Street for a second straight day.

Venture capitalist Chamath Palihapitiya said the effect is confined to Wall Street’s wealthy investors, citing data that the top 10% of U.S. households own nearly 90% of equities. He claimed ...