Log Out | Member Center

85°F

86°/64°

Stocks edge lower; Apple extends decline

  • Associated Press
  • Published Tuesday, Jan. 15, 2013, at 11:11 a.m.

— Stocks are edging lower on Wall Street as tensions rise in Washington over increasing the country’s borrowing limit.

President Barack Obama has criticized congressional Republicans for linking talks over raising the debt ceiling to ongoing budget negotiations. Obama said the consequences of the U.S. government defaulting on its debt would be disastrous and shouldn’t be used as a bargaining chip to extract concessions on spending cuts.

The Dow Jones industrial average fell 14 points to 13,493 shortly before noon Eastern.

The Standard and Poor’s 500 dropped two points to 1,468 and the Nasdaq composite index fell 13 points to 3,104.

Apple fell $18 to $484, its third daily drop. The stock hasn’t closed below $500 in almost a year.

Subscribe to our newsletters

The Wichita Eagle welcomes your comments on news of the day. The more voices engaged in conversation, the better for us all, but do keep it civil. Please refrain from profanity, obscenity, spam, name-calling or attacking others for their views. Please see our commenting policy for more information.

Have a news tip? You can send it to wenews@wichitaeagle.com.

Search for a job

in

Top jobs