US stock market sinks as Apple drags down tech
By Associated Press
Sep 25, 2014 10:53 AM CDT
FILE - This Jan. 4, 2010 file photo shows an entrance to a Wall Street subway station in New York. Global stocks markets were mostly higher Thursday Sept. 25, 2014 after a surge in new home sales in the U.S. bolstered sentiment. But gains were limited by worries about Europe's stagnant economy and violence...   (Associated Press)

NEW YORK (AP) — Technology companies are leading a broad decline in U.S. stocks at midday.

Apple sank 3 percent after the company pulled a software update for its iPhones late Wednesday after users complained that they weren't able to make calls.

The Dow Jones industrial average slumped 219 points, or 1.3 percent, to 16,990 as of noon Eastern time Thursday. That wiped out the Dow's gain of 154 points the day before.

The Standard & Poor's 500 index fell 25 points, or 1.3 percent, to 1,972.

The Nasdaq composite, which is heavily weighted with technology stocks, fell 76 points, or 1.7 percent, to 4,478.

U.S. government bond prices rose. The yield on the 10-year Treasury note dipped to 2.52 percent.