Worst drop for stocks since July as Apple sinks

Sep 25, 2014 3:14 PM by News Staff

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 2014 The Associated Press. All rights reserved


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