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Apple miscue triggers big stock market rout

A stumble by Apple yesterday set off the worst rout in the stock market since July.

Apple dropped nearly 4 percent after its announcement late Wednesday that it had pulled a software update that prevented users from making phone calls. Other technology stocks also slumped.

The selling started early and picked up strength in the afternoon. By the close of trading, all 30 big companies in the Dow Jones industrial average and the 10 industries in the Standard & Poor's 500 index lost ground.

The Dow slumped 264.26 points, or 1.5 percent, to close at 16,945.80. The Nasdaq composite, which is dominated by technology companies, dropped 88.47 points, or 1.9 percent, to 4,466.75.

The S&P 500 index lost 32.31 points, or 1.6 percent, to close at 1,965.99.

It was the worst day for all three indexes since July 31.

Trustees of Reservations picked to program Boston Public Market

The Trustees of Reservations has been selected to handle the programming for the Boston Public Market, the city's first, permanent, year-round indoor market featuring fresh, locally sourced food that's slated to open next summer along the Rose F. Kennedy Greenway.

The Beverly-based Trustees is a nonprofit conservation organization that preserves land and historic places in Massachusetts, including farms. It will oversee educational workshops and events focused on culinary education, health and nutrition, youth engagement, sustainability and conservation, including chef-led cooking demonstrations, nutrition classes and market tours.

"Clearly we see the opportunity that a permanent market would provide in terms of demand," Trustees CEO Barbara Erickson said. "It is a huge win for the farming community in Massachusetts."

The Trustees role is as facilitator, according to Erickson. "We will have an lot of nonprofit collaborators with us, but we will leverage programming experience from our farms, Appleton (in Hamilton and Ipswich) and Powisset (in Dover,) where we have demonstration kitchens."

Today

• Commerce Department releases second-quarter gross domestic product.
•  Frank Grimaldi, left, has been appointed national sales manager of Boston-based Gordon Brothers' valuation and advisory services division, effective Oct. 1. Grimaldi joined the firm in 2011.
•  WiTricity, a Watertown-based pioneer in wireless power transfer over distance, announced that it has named Morris Kesler, Ph.D., as chief technology officer.

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