Apple’s stock plunge accounts for a third of Dow industrials’ 300-point early morning tumble

Shares of Apple Inc.

AAPL, -8.97%

had been producing the stiffest headwind for the Dow Jones Industrial Average in early Thursday motion after the iPhone maker made a uncommon lower to its gross sales forecast. The Cupertino, Calif., tech behemoth was slashing about 100 factors from the Dow

DJIA, -2.23%

with the blue-chip index down 335 factors or 1.4%. A greenback transfer in anyone of the Dow’s 30 elements equates to a roughly 6.8-point swing within the price-weighted index. Apple’s decline additionally was weighing on the broader market, with the S&P 500

SPX, -1.86%

off 1.1% and the Nasdaq Composite Index

COMP, -2.23%

down 1.4%. Both of these indexes are market-capitalization weighted and Apple is one of the most important firms on this planet by market worth ($684 billion).

Have breaking information despatched to your inbox. Subscribe to MarketWatch’s free Bulletin emails. Sign up here.

Source link

Show More

Related Articles

Back to top button