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Apple Knocked From $250 After Hours

Wall Street darling Apple followed tech's broader lead today and saw its share price fall from its monthlong perch at $250.

CUPERTINO, Calif. (TheStreet) -- Even Apple (AAPL) - Get Apple Inc. Report, tech's most beloved stock, wasn't immune from today's down- market affliction that saw the Nasdaq plunge to almost flash-crash levels.

For the first time since July 19, Apple's share price fell below $250 in after-hours trading. At 6 p.m. ET, just as fellow tech giant


(CSCO) - Get Cisco Systems Inc. Report

reported lighter-than-expected fiscal fourth-quarter earnings, Apple shares were falling 1.18% to $247.25.

On July 19, Apple's share price fell to $245.58.

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The entirety of tech was down today due to a growing climate of economic uncertainty. With the odds of a double-dip recession increasing, stocks closed sharply down thanks to news that the U.S. trade deficit unexpectedly grew in June and that the

Federal Open Market Committee

downgraded its economic outlook.



closed lower by 69 points, or 3%, at 2209.

--reported by Maggie Overfelt in New York