Verizon (NYSE:VZ), AT&T (NYSE:T) Fall on Mobile Price War Concerns

Verizon (NYSE:VZ) and AT&T (NYSE:T) dragged the Dow Jones Industrial Average lower on concerns the addition of Apple's (Nasdaq:AAPL) iPhone to the Verizon network will generate a mobile price war.

On Thursday, AT&T announced it was going to start selling the iPhone 3GS for $49, significantly lowering the price from $99.

This was after they said at the Consumer Electronics Show that they were going to aggressively pursue the implementation of its next-generation wireless network in 2011.

Verizon closed Thursday at $36.21, losing $0.95, or 2.56 percent. AT&T dropped to $29.15, falling $0.40, or 1.35 percent.