US STOCKS SNAPSHOT-Wall St turns negative as early gains fade

NEW YORK, Oct 25 (Reuters) - U.S. stocks erased early morning gains and turned negative, weighed down by declines in the materials and telecom sectors.

The Dow Jones industrial average dropped 21.92 points, or 0.17 percent, to 13,055.42. The Standard & Poor's 500 Index lost 1.81 points, or 0.13 percent, to 1,406.94. The Nasdaq Composite Index shed 2.31 points, or 0.08 percent, to 2,979.38.