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Wall Street Dips on 'Fiscal Cliff' Overhang, Apple Shares Drop

2012-12-14 33 Dailymotion

<p>Wall Street dipped at the open on Friday (December 14) as investors digested the latest round of economic data, while concerns about a lack of progress by politicians in ongoing fiscal negotiations remained at the forefront.<br /><br />Apple (AAPL.O) was down 2.8 percent at $515.11 as the company struggles to gain market share in China. The iPhone 5 was officially released in China on Friday (December 14), and Apple is fighting for market share with Samsung and other smartphone giants.<br /><br />Consumer prices fell in November for the first time in six months, but a separate report showed manufacturing grew at its fastest pace in eight months in December.<br /><br />The Dow Jones industrial average dropped 7.22 points, or 0.05 percent, to 13,163.50. The Standard & Poor's 500 Index dropped 3.65 points, or 0.26 percent, to 1,415.80. The Nasdaq Composite Index dropped 16.49 points, or 0.55 percent, to 2,975.67.</p>

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