Apple Closes Lower as U.S. Stocks Extend Losses on Rate Worries

U.S. stocks fell Tuesday, extending losses as investors speculated on when interest rates would rise. All eyes were on Apple (AAPL) today as the tech giant held its much anticipated product launch event. After all the hype and rumors, the Apple watch was finally unveiled. The wearable device pricing starts at $349 and will be available early next year. The new iPhone 6 was the first product to be introduced along with the slightly larger 6 Plus. Both will be available later this month. And Apple is developing a brand new line around the idea of mobile device based wallets, the Apple Pay. Lawmakers in Washington held a hearing to discuss Bakken Crude. The House Science, Space and Technology Committee wants to know if Bakken oil has different properties from other kinds of crude that may require regulating oil companies on their production before transporting it. Annie’s (BNNY) was a big gainer in today’s trading. The stock closed higher on news General Mills will buy the organic foods company for about $820 million dollars.