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Apple Woes Take a Bite Out of the Stock Market

Sep 25, 2014

U.S. stocks dropped significantly Thursday with the major indexes logging their worst session in nearly two months, as Apple fell on smartphone glitches and markets continued to feel the effects of tepid economic numbers.

The Dow Jones Industrial Average dropped 1.54% to 16,845.80, the S&P 500 dropped 1.62% to 1965.99 and the NASDAQ fell 1.94% to 4,466.75. The losses were the greatest since July 31, CNBC reports.

Apple, beset by glitches in it its new operating system and rumors that some iPhone 6 models might bend, dropped 3.8 percent, while Twitter and Pandora Media led stock declines among Internet firms.

Economic reports showed long-lasting goods falling 18.2 percent in August, while a major purchasing index for September was lower than expected.

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