UPDATE: 3M and Apple's stock drops exact 50-point toll on Dow
Share declines of Apple Inc., and 3M Co., on Wednesday were weighing on the Dow Jones Industrial Average, capping gains in the benchmark. Apple Inc. shares (AAPL) sank 2.5% Wednesday morning after the iPhone and Apple Watch maker reportedly admitted (http://www.marketwatch.com/story/apple-admits-issues-with-apple-watch-connectivity-stock-falls-2017-09-20) there are issues with connectivity of the Apple Watch Series 3, its latest model. Shares of Apple were down $2.88, shaving about 20 points from the price-weighted Dow . Shares of 3M Co. (MMM) were off 2%, or $4.16, slicing about 30 points. A $1 change in any of the Dow's components equates to a 6.89-point swing in the average. Overall, the Dow was trading at break-even levels at 22,374 as moves in Boeing Co.'s shares (BA) help to offset Apple and 3M's retreats. Investors were awaiting a key policy update from the Federal Reserve (http://www.marketwatch.com/story/how-much-longer-this-stock-market-bull-run-lasts-may-depend-on-the-feds-next-move-2017-09-17) due at 2 p.m. Eastern time. Meanwhile, the S&P 500 index was seeing muted trade at 2,507, while the Nasdaq Composite Index headed lower by 0.3% to 6,443.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
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