A rare earnings miss by Apple pulled down technology stocks Wednesday. Broad market indexes turned lower in late afternoon trading on reports of an impasse in talks to resolve Europe's debt crisis.
The leaders of Germany, France, the International Monetary Fund and the European Central Bank met Wednesday in preparation for a summit scheduled for this weekend. Markets sank and the price of oil fell after a report came out that France's President Nicolas Sarkozy said Germany and France were in a deadlock over how to expand an emergency fund.
The Dow Jones industrial average fell 72.43, or 0.6 percent, to close at 11,504.62.
The Standard & Poor's 500 index fell 15.50, or 1.3 percent, to 1,209.88.
The Nasdaq composite slid 53.39, or 2 percent, to 2,604.04.
For the week:
The Dow is down 139.87 points, or 1.2 percent.
The S&P 500 is up 14.70 points, or 1.2 percent
The Nasdaq is down 63.81, or 2.4 percent
For the year to date:
The Dow is down 72.89, or 0.6 percent.
The S&P 500 is down 47.76, or 3.8 percent.
The Nasdaq is down 48.83, or 1.8 percent.