Worst drop for stocks since July as Apple sinks

Worst drop for stocks since July as Apple sinks

By The Associated Press | Posted - Sep. 25, 2014 at 2:11 p.m.


1 photo

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — A swoon in technology stocks left the market with its worst drop since July.

Apple sank nearly 4 percent after the company pulled a software update for the iPhone after users complained that they weren't able to make calls.

The Dow Jones industrial average slumped 264 points, or 1.5 percent, to 16,945 Thursday. That wiped out the Dow's gain of 154 points the day before. The index down 2 percent for the week.

The Standard & Poor's 500 fell 32 points, or 1.6 percent, to 1,966.

The Nasdaq composite, which is heavily weighted with technology stocks, fell 88 points, or 1.9 percent, to 4,466.

U.S. government bond prices rose sharply as investors sought safety. The yield on the 10-year Treasury note fell to 2.51 percent.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

The Associated Press

    SIGN UP FOR THE KSL.COM NEWSLETTER

    Catch up on the top news and features from KSL.com, sent weekly.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast