U.S. stocks slid, erasing early gains, as disappointing earnings at Kraft Foods Inc. and Walt Disney Co. triggered a sell-off in consumer shares and concern over the health of Bank of America Corp. snuffed out a rally in banks.

The Standard & Poor’s 500 Index lost 0.8 percent to 832.23, erasing an early gain of 1.6 percent. The Dow Jones Industrial Average slid 121.7 points, or 1.5 percent, to 7,956.66. The Russell 2000 Index decreased 1 percent.

(Bloomberg.com)