Wall Street falls late afternoon; Apple shares cut gain

NEW YORK (Reuters) - U.S. stocks were down sharply in late afternoon trading on Tuesday in a broad selloff as shares of APPLE (AAPL.NQ) cut earlier gains.

Apple, which jumped earlier in the session after it unveiled a smartwatch, was last up 0.2 percent in heavy volume.

All 10 S&P sectors were lower. Shares of Home Depot were down 2.2 percent, among the biggest drags on the Dow and S&P 500, a day after the company confirmed its payment security system had been breached.

Also weighing on the market, McDonald's shares were down 1.5 percent as it reported lower August same-store sales in all regions.

The Dow Jones industrial average <.DJI> was falling 100.42 points, or 0.59 percent, to 17,011, the S&P 500 <.SPX> was losing 13.22 points, or 0.66 percent, to 1,988.32 and the Nasdaq Composite <.IXIC> was dropping 37.24 points, or 0.81 percent, to 4,555.05.

The largest percentage gainer on the New York Stock Exchange was Pulse Electronics , rising 67.33 percent, while the largest percentage decliner was MaxLinear , down 16.53 percent. MaxLinear cut its third-quarter revenue outlook on Monday.

Among the most active stocks on the NYSE were Petrobras , down 3.60 percent to $17.69 and Rite Aid , down 1.94 percent to $6.34.

Besides Apple, Yahoo , down 2.5 percent at $40.76 and SinoCoking Coal , up 175.0 percent to $8.03 were the most actively traded.

Declining issues outnumbered advancing ones on the NYSE by 2,304 to 714, for a 3.23-to-1 ratio on the downside; on the Nasdaq, 1,961 issues were falling and 711 advancing for a 2.76-to-1 ratio favoring decliners.

The broad S&P 500 index was posting 17 new 52-week highs and three new lows; the Nasdaq Composite was recording 53 new highs and 47 new lows.

(Editing by Nick Zieminski and Chris Reese)

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