Wall Street drops, as Europe edges up

US stocks fell on Wednesday for the third session in four, with market direction largely dictated by the swings in shares of Apple, the largest company in the world.

The Dow Jones industrial average dropped 97.33 points, or 0.76 percent, to 12,780.95. The Standard & Poor's 500 Index lost 7.27 points, or 0.54 percent, to 1,343.23. The Nasdaq Composite Index fell 16.00 points, or 0.55 percent, to 2,915.83.

European shares ended off session highs in thin trade, as investors pared gains on a report euro zone officials were considering delaying the second Greek bailout until after the country holds elections in April.

The FTSEurofirst 300 index closed up 0.6 percent at 1,075.75 points in volume 79.2 percent of its 90-day daily average having been up as much as 1,080.30 after the commitment letter.

Japan's Nikkei average rallied to a six-month closing high and the broader Topix index breached the 800 level after the Bank of Japan expanded its asset buying programme the previous day.

The benchmark Nikkei rallied 2.3 percent to 9,260.34, its highest close since last August and soaring above its 200-day moving average near 9,050 that had been seen as a resistance point. The broader Topix advanced 2.1 percent to 802.96, its first rise above 800 in six months.