US STOCKS-Wall St slides after China's surprise currency devaluation

martes 11 de agosto de 2015 17:37 GYT

* Commodities fall as China's cheaper yuan boosts U.S. dollar

* Materials shares lead decline; Apple drops

* Bond prices jump on China FX move, Fed rate speculation

* Indexes down: Dow 1.2 pct, S&P 1.0 pct, Nasdaq 1.3 pct (Recasts; updates close with latest volume, GE selling unit to Capital One, oil decline)

By Caroline Valetkevitch

Aug 11 (Reuters) - U.S. stocks declined broadly on Tuesday as China's devaluation of its yuan currency hit companies with a big exposure to the world's No. 2 economy and added to worries about the global economic outlook.

Apple Inc shed 5.2 percent to end at $113.54 in its biggest daily percentage decline since January 2014, making the stock the biggest drag on all three major U.S. indexes. Jefferies also raised concerns about the demand for the iPhone, primarily in China.

Among other companies with big exposure to China, Caterpillar was down 2.6 percent at $78.04 and Yum Brands dropped 4.9 percent to $83.54. General Motors shares lost 3.5 percent to $30.83, though it said the devaluation of the yuan would have a "limited and manageable" impact on its business.

The Dow Jones industrial average fell 212.33 points, or 1.21 percent, to 17,402.84; the S&P 500 index lost 20.11 points, or 0.96 percent, to 2,084.07 and the Nasdaq Composite dropped 65.01 points, or 1.27 percent, to 5,036.79.   Continuación...