S&P 500 – The News Desk

NEW YORK: The S&P 500 and Nasdaq fell on Thursday, with the biggest drag from Apple and a sell-off in chip stocks over concerns about China's iPhone curbs, while a fall in weekly US jobless claims fed worries about interest rates and sticky inflation.Shares in S&P heavyweight Apple Inc fell 2.9%, for its second straight day of losses on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.Bloomberg reported that China planned to broaden the iPhone ban to state firms and agencies.The drag from Apple, its suppliers and companies with large China exposure pushed the S&P 500 technology sector down 1.6%, making it the biggest percentage decliner among the benchmark's 11 major sect...

Wall Street was mixed on Monday and crude prices rose as investors digested the aborted Russian mutiny over the weekend and wrestled with lingering concerns over the path of Federal Reserve monetary policy.The S&P 500 was modestly lower, while megacap momentum stocks pulled the tech-heavy Nasdaq to a sharper decline.The blue-chip Dow was held aloft by consumer discretionary and industrials. Economically sensitive transports and smallcaps were outperforming.“We’re having a bit of a correction, with (Fed Chair Jerome) Powell still talking about keeping rates higher for longer," said Paul Nolte, senior wealth adviser and market strategist at Murphy & Silvest in Elmhurst, Illinois. “A lot of those big tech companies have had quite a run, so we’re seeing a rotation into smallcaps and v...

Tag: S&P 500

US stocks: S&P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters

US Stocks Mixed as Investors Navigate Russian Turmoil and Fed Policy