LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » World News

Apple drags down Wall Street from record highs

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Oct 19, 2017
10:52 pm
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Losses in Apple stalled Wall Street`s record run on Thursday as worries over slack demand for iPhone 8 sent its shares down 2.5 percent.

Shares of the world`s biggest company by market capitalization were headed for their worst day in more than two months as doubts about its double 2017 iPhone release strategy weighed on investor minds.

A bunch of weak corporate earnings also added to the weak sentiment.

"Apple has its impact across the board," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York.

"The marketing plan here was not a lot to be desired, considering you have two phones and the next one is just two weeks away from release. If it`s going to be a significant upgrade, it did not make any sense to me."

There is also profit-taking in the tech sector, Blancato said. Technology sector has had a strong run so far, gaining more than 30 percent and helping the three major indexes scale record highs.

The other high-flying FAANG stocks - Amazon, Facebook, Alphabet and Netflix - were down about 1 percent.

At 12:42 p.m. ET (1642 GMT), the Dow Jones Industrial Average was down 42.26 points, or 0.18 percent, at 23,115.34, the S&P 500 was down 5.89 points, or 0.23 percent, at 2,555.37 and the Nasdaq Composite was down 46.19 points, or 0.7 percent, at 6,578.04.

The retreat from record levels comes on a day that marks the 30th anniversary of the 1987 Black Monday stock market crash.

Six of the 11 major S&P indexes were lower, led by technology and financials index.

The financial index dropped 0.46 percent, led by losses in Bank of New York Mellon and KeyCorp.

United Airlines tumbled 11.4 percent, weighing on other airlines stocks and the Dow Jones Transport index, after the third largest U.S. carrier`s profit fell due to flight cancellations during the hurricane season.

Healthcare stocks gained, boosted by a 5.4 percent rise in the shares of medical equipment maker Danaher.

Verizon jumped 2 percent on strong quarterly earnings, lifting telecom stocks.

Among the few gainers in the tech sector was Adobe, which jumped more than 11 percent after the Photoshop maker gave a strong 2018 profit forecast.

Declining issues outnumbered advancers on the NYSE by 1,793 to 1,027. On the Nasdaq, 1,971 issues fell and 856 advanced.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Bharti Airtel vs Reliance Jio vs Vodafone Idea - check who is gaining market share across parameters

The budget should focus on containing inflation; Taxes should be reduced: Arun Kumar Bajoria, JK Tyre

How to check IRFC IPO Allotment Status Online: All you need to know in one place

IRDAI panel for separate payments of vehicle, insurance premium

The Kapil Sharma Show set to go off air? Reasons REVEALED? Check report

K-pop super band BTS have ''surprise gifts'' for fans

EPFO members alert! Provident Fund regulator credits 8.5 pct PF interest; do EPF passbook balance check online at epfindia.gov.in

7th Pay Commission latest news today: Big salary hike for central government employees? Centre to announce DA gift this Holi?

''See you at your trial'': Big decision looms for Kamala Harris on Trump impeachment trial

PUBG Mobile India launch: Important notification issued by govt | Check reason for BIG Trouble here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved