The selling offsets decent earnings from Cisco Systems and Home Depot. Techs fall, led by Microsoft and Intel. Michael Kors rises. Gold and oil slip. The major averages have fallen more than 6.6% since mid-September.
Apple's market cap tops $623 billion, beating a record set by Microsoft in 1999. Stocks end flat. Aetna will buy Coventry Health for $5.7 billion. Urban Outfitter shares jump on strong results. Gold moves up; oil slips.
Cisco Systems' earnings cheer tech investors. An IBM deal also excites the market. Building permits hit a 4-year high. Wal-Mart and Ross Stores results disappoint. Facebook hits a new low. Jobless claims are flat.
The networking giant's shares jump after hours. The Dow ends with a tiny loss. The market is helped by Target and Abercrombie & Fitch results. Staples and Deere shares slump on weak outlooks. Homebuilder confidence improves.
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MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
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