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News: Business

US stocks slipping at close; Apple hits new high

September 17, 2012 | Modified: September 17, 2012 at 5:16 pm
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Photo - FILE- In this Sept. 13, 2012, file photo, specialist Sean O'Brien works at his post on the floor of the New York Stock Exchange. Global stock markets were muted Monday, Sept. 17, as the boost faded from the Federal Reserve's announcement last week of new measures to energize the U.S. economy.(AP Photo/Richard Drew, File)
FILE- In this Sept. 13, 2012, file photo, specialist Sean O'Brien works at his post on the floor of the New York Stock Exchange. Global stock markets were muted Monday, Sept. 17, as the boost faded from the Federal Reserve's announcement last week of new measures to energize the U.S. economy.(AP Photo/Richard Drew, File)

NEW YORK (AP) — U.S. stocks are slipping at the close, breaking a four-day rally that pushed indexes near pre-recession highs.

The Dow Jones industrial average was down 40 points at 13,553 Monday. The Standard & Poor's 500 fell nearly five to 1,461. The Nasdaq composite lost five to 3,179.

Stocks are coming off a surge following Federal Reserve plans last week to buy bonds to get people to borrow and spend more. Dampening spirits was an Empire State Manufacturing Survey suggesting conditions for New York manufacturers weakened in September.

Apple rose $8.50 to a new high of $699.78 after announcing blockbuster advance sales for its iPhone 5.

More than two stocks fell for every one that rose on the New York Stock Exchange. Volume was light at 3.2 billion shares.

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