Stocks Erase Gains as Nvidia’s Rally Offsets Rate Hike Rumbles

US stocks on Wednesday afternoon erased the morning’s gains, following Minneapolis Fed President Neel Kashkari’s comment that it’s time for the central bank to start slowly raising rates and as strategists see profit taking in the recent tech rally. Megacap Nvidia Corp. extended its rally into a fifth day on confidence in artificial-intelligence related spending, contributing the most to the S&P 500 Index on a points basis.