NEW YORK (MarketWatch) -- U.S. stocks erased Monday gains to turn sharply lower after an index of manufacturing fell in July. After rallying 139 points, the Dow Jones Industrial Average DJIA -0.45% fell 66.6 points to 12,077.66. The Standard & Poor's 500 Index SPX -0.42% declined 9.39 points to 1,282.89. The Nasdaq Composite Index COMP -0.26% lapsed 12.79 points to 2,743.59.
