Stocks hit session lows and the Nasdaq turned negative on Wednesday as shares of Apple Inc gave up earlier gains and moved into the red.

The Dow Jones industrial average <.DJI> dropped 87.49 points, or 0.68 percent, to 12,790.79. The Standard & Poor's 500 Index <.SPX> lost 4.40 points, or 0.33 percent, to 1,346.10. The Nasdaq Composite Index <.IXIC> fell 6.36 points, or 0.22 percent, to 2,925.47.

(Reporting By Chuck Mikolajczak; Editing by Kenneth Barry)