Economics
U.S. Stocks Decline on Tech Woes; Dollar Rallies: Markets Wrap
- Apple and General Electric fall; Treasuries take a day off
- OPEC mulls supply cut, Trump pushes back; sterling slumps
This article is for subscribers only.
U.S. stocks started the week on a sour note, with tech shares tumbling as Apple Inc. faltered on signs of weak iPhone demand. The dollar rose, and the pound slid as the U.K.’s premier fought to save her Brexit divorce plan. Oil gave up early gains.
The S&P 500 Index and Dow Jones Industrial Average finished Monday near session lows. The Nasdaq 100 dropped for the third day and the Russell 2000 small-cap benchmark erased its gains for the year. Major suppliers for Apple also fell as investors fretted about one of the most important product lines in the technology sector, and U.S. chip stocks followed suit.