Apple was among the decliners, falling $37.05, or 6.4 percent, to $538.79. Stifel Financial analyst Aaron Rakers said the drop was in part due to comments from AT&T Mobility chief executive officer Ralph de La Vega, which suggested that smartphone activations this quarter were lagging the same period a year ago. The stock has now dropped 23 percent since closing at a record $702.10 in September.Stocks are still up on the year, after the Federal Reserve extended its bond-buying program in September, offsetting concern that the European debt crisis was set to spread. The Dow has gained 7 percent and S&P 500 has advanced 12 percent.
Stocks Edge Higher On Hope For China Stimulus
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.