Nasdaq falls 1%, Apple weighs

US stocks drift in fog of uncertainty

US stocks added to losses in morning trading Wednesday, with the Nasdaq Composite shedding more than 1% as shares of Apple dropped nearly 5%.

The Dow Jones industrial average fell 22.92 points, or 0.18%, to 12,928.86. The S&P 500 lost 7.93 points, or 0.56%, to 1,399.12. The Nasdaq Composite dropped 36.01 points, or 1.20%, to 2,960.68.

Wall Street had opened little changed as a slide in shares of Freeport-McMoRan offset optimism about a global economic recovery, spurred by comments from China's new leader.