Tech stocks drag down Wall Street as earnings worries weigh
Updated : October 16, 2018 06:28 AM IST
The technology index fell 1.6 percent, weighing the most on the S&P 500, while defensive sectors such as real estate, consumer staples and utilities led the S&P’s major sectors in percentage gains.
Yields on the benchmark 10-year Treasury note were at 3.1557 percent, holding above September’s levels but below the levels that prompted last week’s sell-off.
Apple Inc shares fell 2.1 percent and weighed the most on all three of Wall Street’s major indexes after Goldman Sachs said there were multiple signs of rapidly slowing consumer demand in China, which could affect demand for iPhones this fall.
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more