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News Summary: Stocks drop following Fed minutes

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The Associated Press | February 20, 2013 05:16 PM EST | AP


FED NEWS: Minutes from the Federal Reserve's last meeting helped drive the Standard & Poor's 500 index to its biggest loss this year. Several Fed policymakers worried that the bank's bond-buying could eventually unsettle financial markets or cause the bank to take losses.

ENOUGH GADGETS?: News that Apple's major supplier, Foxconn, stopped hiring at its largest plant in China helped push down Apple's stock. Foxconn reportedly said the hiring freeze was not caused by slumping orders for iPhones.

FINAL SCORE: The S&P 500 sank 18.99 points to 1,511.95, down 1.2 percent. The Dow Jones industrial average fell 108.13 to 13,927.54, a loss of 0.8 percent.