AFP, New York :
Slumping Apple shares hit the tech-rich Nasdaq Thursday, snapping a two-day streak of record highs as US markets broadly finished lower.
Apple’s 2.6 percent decline came one day after the technology giant unveiled new iPhones and a second-generation Apple Watch that drew mixed reviews.
The Nasdaq Composite Index lost 0.5 percent at 5,259.48.
The Dow Jones Industrial Average fell 0.3 percent to 18,479.91, while the broad-based S&P 500 dropped 0.2 percent to 2,181.30.
“I think the story of the day were the reactions to the iPhone7,” said Mace Blicksilver of Marblehead Asset Management. “More than anything else it put Nasdaq in a depressed mood.”
Twitter meanwhile sank 5.9 percent ahead of a board meeting as doubts rose about reports that surfaced last week that the company could be ready to entertain a takeover proposal.
Petroleum-linked stocks rose with oil prices. Dow member ExxonMobil gained 0.9 percent, Halliburton 1.3 percent and Devon Energy 2.4 percent.
Dow member Nike dropped 2.7 percent after PiperJaffray downgraded the athletic footwear and apparel giant, citing rising competition from Adidas, Puma and other brands in Europe.
Walgreens Boots Alliance rose 2.2 percent and Rite Aid 5.9 percent after Walgreens Boots said it expects its acquisition of its smaller drugstore chain rival to close in the second half of 2016. Walgreens Boots expects to sell between 500 and 1,000 stores to win regulatory approval.
Tractor Supply Company slumped 16.9 percent after forecasting that third-quarter comparable store sales would be from flat to a decline of one percent.
Slumping Apple shares hit the tech-rich Nasdaq Thursday, snapping a two-day streak of record highs as US markets broadly finished lower.
Apple’s 2.6 percent decline came one day after the technology giant unveiled new iPhones and a second-generation Apple Watch that drew mixed reviews.
The Nasdaq Composite Index lost 0.5 percent at 5,259.48.
The Dow Jones Industrial Average fell 0.3 percent to 18,479.91, while the broad-based S&P 500 dropped 0.2 percent to 2,181.30.
“I think the story of the day were the reactions to the iPhone7,” said Mace Blicksilver of Marblehead Asset Management. “More than anything else it put Nasdaq in a depressed mood.”
Twitter meanwhile sank 5.9 percent ahead of a board meeting as doubts rose about reports that surfaced last week that the company could be ready to entertain a takeover proposal.
Petroleum-linked stocks rose with oil prices. Dow member ExxonMobil gained 0.9 percent, Halliburton 1.3 percent and Devon Energy 2.4 percent.
Dow member Nike dropped 2.7 percent after PiperJaffray downgraded the athletic footwear and apparel giant, citing rising competition from Adidas, Puma and other brands in Europe.
Walgreens Boots Alliance rose 2.2 percent and Rite Aid 5.9 percent after Walgreens Boots said it expects its acquisition of its smaller drugstore chain rival to close in the second half of 2016. Walgreens Boots expects to sell between 500 and 1,000 stores to win regulatory approval.
Tractor Supply Company slumped 16.9 percent after forecasting that third-quarter comparable store sales would be from flat to a decline of one percent.
