US stock market sinks as Apple drags down tech

AP News
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Posted: Sep 25, 2014 11:53 AM
US stock market sinks as Apple drags down tech

NEW YORK (AP) — Technology companies are leading a broad decline in U.S. stocks at midday.

Apple sank 3 percent after the company pulled a software update for its iPhones late Wednesday after users complained that they weren't able to make calls.

The Dow Jones industrial average slumped 219 points, or 1.3 percent, to 16,990 as of noon Eastern time Thursday. That wiped out the Dow's gain of 154 points the day before.

The Standard & Poor's 500 index fell 25 points, or 1.3 percent, to 1,972.

The Nasdaq composite, which is heavily weighted with technology stocks, fell 76 points, or 1.7 percent, to 4,478.

U.S. government bond prices rose. The yield on the 10-year Treasury note dipped to 2.52 percent.


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