Apple weighs on US stock markets

Apple weighs on US stock markets

Tech giant Apple saw its shares tumble 1.7% in early Wednesday trading as investors reacted to the news that sales of iPhones fell in the first quarter of 2017.

The stock dragged down the tech-focused Nasdaq index, which fell 25.25 points or 0.41% to 6,070.11.

Other major indexes also traded lower. The Dow Jones was down 26.64 points or 0.13% at 20,923.25.

Meanwhile, the S&P 500 was 5.32 points or 0.22% lower at 2,385.85.

“The market is taking its cue from Apple,” said JJ Kinahan, chief market strategist at TD Ameritrade in Chicago.

Source: BBC News

Leave a Reply