Stocks added to losses in morning trading Wednesday, with the Nasdaq Composite shedding more than 1 percent as shares of Apple dropped nearly 5 percent.

The Dow Jones industrial average fell 22.92 points, or 0.18 percent, to 12,928.86. The S&P 500 lost 7.93 points, or 0.56 percent, to 1,399.12. The Nasdaq Composite dropped 36.01 points, or 1.20 percent, to 2,960.68.

Wall Street had opened little changed as a slide in shares of Freeport-McMoRan offset optimism about a global economic recovery, spurred by comments from China's new leader.

(Reporting by Rodrigo Campos; Editing by Bernadette Baum)