U.S. Stocks Drop as Apple Sinks Amid Rate Concern, Russia

[Purveyor]

By Joseph Ciolli Sep 25, 2014 11:15 AM ET

U.S. stocks tumbled, with the Standard & Poor’s 500 Index dropping the most in seven weeks, as Apple Inc. sank amid speculation Russia may seize foreign assets and data that fueled concern rates may rise soon.

Apple Inc. plunged 3.5 percent to drag technology stocks lower amid snafus in the rollout of a new smartphone. Twitter Inc. and Pandora Media Inc. slid at least 2.2 percent to pace losses among Internet companies. The Russell 2000 Index of small stocks sank 1.5 percent as investors sold speculative shares.

The S&P 500 fell 1.2 percent to 1,974.18 at 11:11 a.m. in New York, headed for its lowest close since Aug. 18. The Dow Jones Industrial Average plunged 204.70 points, 1.2 percent, to 17,005.36. The Nasdaq 100 Index slid 1.7 percent, its biggest decline since July. Apple is the largest component of both the S&P 500 (SPX) and the Nasdaq 100.

Today’s decline in the S&P 500 sent the benchmark gauge below its average price for the past 50 days for the first time since August on a closing basis. The index is down 1.5 percent in September.

more...

http://www.bloomberg.com/news/2014-09-25/u-s-stock-index-futures-little-changed-before-reports.html

[Wellstone ruled]

1. Bullshit!!!!

Real story was a program trade that dumped on the open valued at 1.5 Billion. Got to look beyond the spin. Nest to last day of the trading quarter. Major shift from commodities to equities and the 1%ers force the market down to steal stocks on the cheap. It's all about Rotation.

[a kennedy]

2. D*mn, is that true?