Stocks down in New York

small-cap shares sent the Russell 2000 Index toward its worst week since October and pared a monthly gain for the Standard & Poor’s 500 Index.

Apple Inc. lost 2.7 percent after reports it found a defect in its new watch. Yelp Inc. plunged 23 percent as its earnings and outlook disappointed investors, and Google Inc. fell 2.3 percent. The Nasdaq Biotechnology Index dropped 3.1 percent. Energy companies pared their biggest monthly gain in more than a year. LinkedIn Corp. dropped 23 percent in late trading as its second-quarter forecast missed estimates.

The S&P 500 declined 1 percent to 2,085.51 at 4 p.m. in New York, below the index’s average price for the past 50 days. The Russell 2000 Index slumped 2.2 percent, its biggest drop in more than a month. The Dow Jones Industrial Average fell 195.01 points, or 1.1 percent, to 17,840.52, and the Nasdaq Composite Index lost 1.6…

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