US STOCKS-Wall St flat in choppy trading; telecoms fall

miércoles 6 de agosto de 2014 15:11 GYT
 

* Equities erase morning gains

* Sprint, T-Mobile, AT&T shares fall as Sprint drops bid

* Cognizant shares down after results

* Indexes up: Dow 0.1 pct, S&P 0.1 pct, Nasdaq 0.2 pct (Updates prices, changes comment, byline)

By Akane Otani

NEW YORK, Aug 6 (Reuters) - U.S. stocks hovered near the unchanged mark on Wednesday in choppy trading as the potential for tension to escalate between Russia and Ukraine kept risk seekers in check.

Equities recovered from an initial selloff that took the S&P 500 to its 100-day moving average, which provided technical support. But the benchmark gave up an earlier 0.4 percent advance by mid-afternoon.

The S&P 500 telecom services sector slipped 1.5 percent as the worst performing industry, with AT&T and Verizon down on news that Sprint, facing regulatory resistance, gave up its bid for T-Mobile. Sprint lost 18.3 percent to $5.94 and T-Mobile fell 8 percent to $31.19.

Investors were leery after NATO reported Russia has around 20,000 combat-ready troops on the eastern border of Ukraine that it could use to invade under the pretext of a humanitarian or peace-keeping mission. Further souring the mood, Russian President Vladimir Putin announced Moscow's biggest economic response to Western sanctions so far.   Continuación...