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Home>Apple's afternoon stock stumble serves as drag on Dow's climb to record

Apple's afternoon stock stumble serves as drag on Dow's climb to record

Apple's afternoon stock stumble serves as drag on Dow's climb to record

10/02/2017

The Dow Jones Industrial Average on Monday was trading in record territory, despite the drag produced by the world's largest company by market value. Apple Inc.'s shares (AAPL) were down 0.9%, or $1.20, in afternoon trade, shaving about 10 points from the Dow , and serving as the worst performer among the blue-chip index's 30 components. Apple's share also were pressuring the Nasdaq Composite Index , which was dipping in and out of positive territory after showing firmer gains in early trade Monday. The S&P 500 index also was in the green but the tech sector, as measured by the popular exchange-traded Technology Select Sector SPDR ETF (XLK), was weighing on the broad-market benchmark. The S&P 500 was up 0.2% at 2,524, but the tech sector was down 0.1%. Market participants didn't point to a clear reason behind Apple's relative under-performance.

-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

10-02-17 1227ET

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

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