Stocks edge lower; Apple extends decline

01/15/2013 11:10 AM

01/15/2013 11:11 AM

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.

Wichita Top Jobs

View All Top Jobs

Join the Discussion

The Wichita Eagle is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service