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Home>UPDATE: 3M and Apple's stock drops exact 50-point toll on Dow

UPDATE: 3M and Apple's stock drops exact 50-point toll on Dow

UPDATE: 3M and Apple's stock drops exact 50-point toll on Dow

09/20/2017

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

 

(END) Dow Jones Newswires

09-20-17 1349ET

Copyright (c) 2017 Dow Jones & Company, Inc.

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