“Shares of Apple fell nearly 2 percent on Tuesday, dipping into correction territory as the broader markets slumped,” Anita Balakrishnan reports for CNBC.
“Falling as low as $110.53 a share, Apple was, at one point, down more than 10 percent from its last 52-week high of $123.82 on Nov. 4, 2015. A 10 percent downward move from the last 52-week high is known as a ‘correction,'” Balakrishnan reports. “Shares closed 1.8 percent lower at $111.47.”
“The Dow Jones industrial average briefly fell about 200 points on Tuesday, breaking below 18,000, as the U.S. presidential election and Federal Reserve meeting loomed,” Balakrishnan reports. “Apple fell alongside the market, contributing the most losses to the Dow and seeing the biggest point impact in the Nasdaq 100 on Tuesday afternoon.”
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MacDailyNews Take: This too shall pass.