Wall Street dragged lower by Apple and banks

The S&P 500 financial index dropped 1.11 percent after Bloomberg reported that some hedge funds have withdrawn excess cash and positions held at the German lender.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