This is your Market Close Wrap Up for August 21, 2012. Stocks finished in the red on Tuesday, falling off session highs as Apple losses overtook optimism about Europe. Apple (NASDAQ:AAPL) lost over 1% on the day just after it made history to become the most valuable company of all time. The tech giant’s valuation reached $623.5 billion yesterday, surpassing Microsoft’s 1999 peak of $613 billion. Some analysts are saying the company could reach the trillion-dollar valuation mark at the rate the company is growing. Oil and Gold trading higher on the day. Oil finished up just over $96 a barrel and Gold surging up $15 to $1,638 an ounce.One of the big winners in today’s session was Urban Outfitters (NYSE:URBN). Its stock was up over 18% due to its positive quarterly results. One of the biggest losers: Yelp (NYSE:YELP). Its shares finished down over 6% as it faces tough competition with other product/travel review sites.Taking a look at where the markets closed today, the Dow lost over 68 points finishing at 13,203. The S&P was down close to five points and the Nasdaq lost almost nine points.For more market updates and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com
