Market Wrap: Chips Ahoy!; Apple's Octo-Streak Ends Abruptly; FOMC Minutes Seem Like Hours

Market wrap-up for February 15th

End of the Day: Dow Jones down 97.3 to 12,780.95; Nasdaq down 16.0 to 2,915.83; S&P 500 down 7.3 to 1,343.23

The following is a brief summary of events moving markets today:

• Once you start, you just can't stop: Kellogg (NYSE: K) said it would acquire Pringle's from Proctor & Gamble (NYSE: PG) in a $2.7 billion deal, following the cancellation of the transaction between P&G and Diamond Foods (Nasdaq: DMND). All three ended the session in positive territory.
  
  
• Apple's streak comes to a screeching halt: Apple Inc. (Nasdaq: AAPL) shares had one of its worst finishes in months today, falling 2.3 percent to end back below the $500 level. Though shares climbed to $526.3 during the session, late jitters sent Apple -- and much of the Nasdaq -- in a downward spiral. Some speculate it was due to a report Apple asked Amazon (Nasdaq: AMZN) to halt online sales of its iPad in China.
  
  Volume was pretty nuts on the move as well, trading over 50 million shares. The close reverses an eight-session winning streak.
  
  
• We'll do QE3. Or maybe not.: The FOMC was split on QE3, according to minutes from its January 24-25 meeting. Some thought additional securities purchase would need to be made before long, while others pointed to the need for further deterioration in the market before any more moves were made. For the complete script, click here.
  
  
• Why not, right?: Apple (Nasdaq: AAPL) is requesting permission to sue Kodak (OTCBB: EKDKQ) over patent infringement. Though Apple can file complaints at any time, it is seeking permission "out of an abundance of caution," it said in a filing.

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