U.S. stocks fell as concern grew that Greece was moving closer to default and Federal Reserve minutes showed policy makers were divided on buying more assets.

Apple Inc. (AAPL) dropped 0.4 percent, reversing a 3.3 percent rally, amid reports that the company has pulled its iPad from Amazon.com Inc. in China. Deere & Co. (DE), the largest maker of agricultural equipment, fell 4.1 percent after lowering its forecast for U.S. farmer revenue. Comcast Corp. (CMCSA), the largest U.S. cable company, rallied 5 percent after authorizing a $6.5 billion buyback as profit jumped 26 percent.

The Standard & Poor’s 500 Index lost 0.3 percent to 1,346.51 at 2:50 p.m. New York time, reversing an earlier gain of as much as 0.4 percent. The Dow Jones Industrial Average fell 78.26 points, or 0.6 percent, to 12,800.02 today.

Concern that Greece will miss a debt payment next month grew as a decision slated for tonight on 130 billion euros ($171 billion) of aid was postponed until at least Feb. 20 and possibly until after a full-time Greek government emerges from elections later in the year. Global equities rallied earlier as China pledged to invest in Europe’s bailout funds and sustain its holdings of euro assets.

U.S. equities extended losses as minutes of the Fed’s last meeting showed a few policy makers said the central bank may have to consider purchasing more securities soon, while others said the economic outlook would have to worsen. Production at U.S. factories increased in January, reflecting gains in demand for U.S.-made automobiles and business equipment that may keep manufacturing at the forefront of the expansion.

One Percent Away

The S&P 500 yesterday closed about 1 percent away from its peak nine months ago of 1,363.61, which was the highest level since June 2008. The index has risen 7.1 percent this year as the U.S. economy showed signs of accelerating and European leaders moved closer to a solution on the region’s debt crisis.

Apple, the nation’s biggest company by market value, tumbled as much as 1.5 percent. Marbridge Consulting said the company asked Amazon China and other websites to stop selling the iPad amid a patent dispute. Apple shares fell 0.4 percent to $507.29.

Industrial shares had the biggest decline in the S&P 500 among 10 industries. Deere slumped 4.1 percent to $85.40. Total U.S. farm receipts will be $371.9 billion in 2012, down from a November forecast for $374.2 billion, as corn, wheat and soybean prices decline, the Moline, Illinois-based company said today in a presentation accompanying its fiscal-first quarter results.

Zynga Inc. tumbled 15 percent to $12.25. The biggest developer of games for Facebook Inc.’s site slumped after product-development costs weighed on profit.

Customer Losses

Comcast rallied 5 percent to $28.62. Comcast also increased its annual dividend 44 percent to 65 cents a share. Fourth- quarter profit rose more than analysts estimated and video- customer losses narrowed for the fifth straight period. Kellogg Co. (K) climbed 5.4 percent to $52.99. The company agreed to acquire Procter & Gamble Co. (PG)’s Pringles potato chip business for about $2.7 billion in cash to triple its global snacks sales after a deal with Diamond Foods Inc. fell through.

Dean Foods Co. (DF) soared 11 percent, the most in the S&P 500, to $12.04. The biggest U.S. milk processor reported lower raw- milk costs at its fresh dairy business. Average raw-milk costs in the fourth quarter were 12 percent lower than in the previous quarter, the Dallas-based company said in a statement today. The Fresh Dairy Direct segment is Dean’s biggest unit by sales.

May Lift

Blackstone Group LP’s Byron Wien, whose prediction for the U.S. economy and stock market in 2011 proved too optimistic, said he may need to lift his estimate for the S&P 500 for this year. Wien, chairman of Blackstone’s advisory services unit, said in January in his annual “10 Surprises” list the benchmark gauge for U.S. stocks may exceed 1,400. He said today he may have to raise the projection.

“1,400 when the market was 1,250 at the beginning of the year was a reasonable target, a conservative target,” Wien said in an interview today on Bloomberg Radio’s “Bloomberg Surveillance” with Tom Keene. “But I think we could well exceed it. Look, S&P 500 operating earnings are going to be in excess of $100. Very often, almost always, the S&P 500 sells at 15 times, that would take you over 1,500.”