Tuesday's Bloomberg Market Report

By: Deborah Kostroun Email
By: Deborah Kostroun Email
  • Dow Jones Industrials: Down 89.24 to 12,878.13
  • S&P 500: Down 7.35 to 1,398.94
  • NASDAQ: Down 8.99 to 2,967.79

Here are the headlines from Tuesday's Bloomberg Market Report.

The uproar over the new iPhone's flawed mapping system has led to the program's manager being fired. The company is now consulting with outside mapping experts and pushing its digital maps provider to fix several mistakes on the system that replaced Google maps on the new device.

This year's drought cut nearly $4 billion from U.S. farm income; marking more than a three percent drop over 2011. The Department of Agriculture released a report on the decline Tuesday, which also projects an all-time high in farming expenses.

A union representing Hostess workers and its pension fund asked a judge overseeing the company's bankruptcy to appoint a Chapter 11 trustee to oversee the corporation's liquidation. Union lawyers say Hostess forced them to request a trustee as they object to current management carrying out the company's wind-down.

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