Bloomberg News

S&P 500 Erases Gain as Apple Shares Reverse 3.3% Advance

February 15, 2012

Feb. 15 (Bloomberg) -- U.S. stocks fell, erasing an earlier gain, as Apple Inc. reversed an advance of as much as 3.3 percent amid reports that the company has pulled its iPad from Amazon.com Inc. in China.

Apple, the nation’s biggest company by market value, tumbled as much as 1.5 percent as Marbridge Consulting said the company asked Amazon China and other websites to stop selling the iPad amid a patent dispute.

The Standard & Poor’s 500 Index slipped 0.3 percent to 1,347.06 at 1:08 p.m. in New York after climbing as much as 0.4 percent earlier after China said it will increase efforts to fight Europe’s debt crisis. The Dow Jones Industrial Average slipped 86.43 points, or 0.7 percent, to 12,791.85.

--Editor: Michael P. Regan

To contact the reporter on this story: Michael P. Regan in New York at mregan12@bloomberg.net

To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net


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