US STOCKS-Wall St dragged lower by Apple and banks

jueves 29 de septiembre de 2016 14:52 GYT

* Fed Chair Janet Yellen to speak at 4:00 p.m. ET

* Apple drops on Barclays price target cut

* Indexes down: Dow 0.85 pct, S&P 0.65 pct, Nasdaq 0.66 pct (Updates to afternoon)

By Noel Randewich

Sept 29 (Reuters) - Wall Street dropped on Thursday, weighed down by Apple as well as selling in Wells Fargo, Citigroup and other major banks as investors worried about the health of Deutsche Bank.

The S&P 500 financial index dropped 1.11 percent after Bloomberg reported that some hedge funds have withdrawn excess cash and positions held at the German lender.

Concerns over the stability of Germany's biggest bank have pushed its shares to record lows and its U.S.-listed stock on Thursday tumbled 6.6 percent.

Wells Fargo & Co lost 1.67 percent after U.S. lawmakers rebuked CEO John Stumpf over his handling of sales abuses.

Citigroup dropped 1.77 percent and JPMorgan Chase fell 1.47 percent.   Continuación...