Europe Concerns Weigh on Stocks

U.S. stocks began mostly lower on Wednesday as investors weighed euro zone concerns against recent central bank actions that have supported equity prices. The Dow Jones Industrial Average lately fell 9.67 points to 13,447.88. The S&P 500 slipped 4.69 points to 1,436.90. The Nasdaq Composite  declined 13.92 points to 3,103.81.

Applications for U.S. home mortgages rose last week as interest rates dropped to record lows in the wake of the Federal Reserve’s latest stimulus efforts, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 2.8 percent in the week ended Sept 21.

Google is developing a maps application for iPhone and iPad that it is seeking to finish by the end of the year, according to people involved with the effort who declined to be named because of the nature of their work. There has been widespread speculation about whether and when Google would release a maps application for Apple devices since Apple released a new version of its iOS operating system with an Apple-made maps service.

The S&P Dow Jones Indices said Wednesday that Kraft Foods Group (KFT), which is being spun off from Kraft Foods Inc., will replace Alpha Natural Resources Inc. on the S&P 500.