“U.S. stocks tumbled the most in eight weeks, as Apple Inc. sank on snafus related to its new smartphone and concern mounted that Russia may seize foreign assets,” Joseph Ciolli and Oliver Renick report for Businessweek.
“Apple plunged 3.3 percent to send technology stocks in the Standard & Poor’s 500 Index to the biggest decline since April,” Ciolli and Renick report. “The S&P 500 fell 1.5 percent to 1,967.97 at 2:05 p.m. in New York, with all but 17 of the index’s components declining. The Dow Jones Industrial Average plunged 251.81 points, or 1.5 percent, to 16,958.25. The Nasdaq 100 Index slid 2 percent. All three gauges are having their worst performance since July 31. Trading in S&P 500 stocks was in line with the 30-day average.”
“Apple’s 3.3 percent slide was the biggest since Sept. 3. The company pulled a new mobile-software update after the program caused some people to lose cellular service yesterday,” Ciolli and Renick report. “Scores of consumers also criticized the new 6 Plus iPhone and how it can bend.”
Read more in the full article here.
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