Markets Right Now: Stocks erase an early gain and turn lower
NEW YORK (AP) — The latest on developments in financial markets (all times local):Noon
U.S. stocks are turning lower in midday trading as a big loss from Apple drags technology companies lower.
Higher bond yields are also hurting high-dividend companies Friday.
Apple sank 7 percent after forecasting weak revenue. It also startled investors by saying it will stop disclosing quarterly iPhone sales.
Stocks had surged over the previous three days and they're still on pace for a big weekly gain after skidding in October.
Starbucks jumped 10 percent after reporting banner sales last quarter.
The S&P 500 fell 20 points, or 0.8 percent to 2,719.
The Dow Jones Industrial Average fell 128 points, or 0.5 percent, to 25,251.