U.S. stocks declined as weaker data on Black Friday sales and China manufacturing overshadowed a rebound in oil and expansion in American factories.

The S&P 500 fell 0.7 percent to 2,053.5 at 4 p.m. in New York. The Dow Jones Industrial Average slumped 48.75 points, or 0.3 percent, to 17,779.49. The technology-heavy Nasdaq 100 Index lost 1.2 percent. Trading in S&P 500 companies was 18 percent above the 30-day average for this time of the day.

The S&P 500 dropped as much as 0.8 percent in the first half hour of trading after Apple plunged 6.4 percent, the most since January. Equities briefly pared losses as Apple trimmed its declines and data from the Institute for Supply Management showed manufacturing in the U.S. grew in November at a faster pace than projected.

Source : Bloomberg