Business Update: Apple CEO out sick

January 14, 2009

Apple CEO Steve Jobs said his medical condition was more complex than originally thought and will step down from day-to-day operations until June. The Dow dropped 248 points, or 2.9 percent, to 8,200. The S&P 500 lost 29 points, or 3.3 percent, to 842. The Nasdaq fell 56 points, or 3.7 percent, to 1,489. Speaker: Art Hogan, chief market analyst, Jefferies Conway Gittens reports from New York.