LATE LOSSES: A late sell-off wiped out the stock market’s gains Thursday as investors worried that a bill headed for a vote in the House of Representatives would fail to break a stalemate over raising the country’s debt limit.

THE CONCERN: Senate Majority Leader Harry Reid said the bill wouldn’t get a single Democratic vote in the Senate, meaning it would fail.

INDEXES: The Dow Jones industrial average fell 62.44 points, or 0.5 percent, to close at 12,240.11. The Standard & Poor’s 500 fell 4.22, or 0.3 percent, to 1,300.67. The Nasdaq composite rose 1.46, or 0.1 percent, to 2,766.25.

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