US stocks close lower as Apple slumps
iStock/Thinkstock(NEW YORK) — Wall Street closed in the red on Friday as technology stocks suffered from Apple’s sliding shares.
The Dow Jones Industrial Average slipped 201.95 (-0.82 percent) to finish the session at 24,462.94.
The Nasdaq sunk 91.93 (-1.27 percent) to close at 7,146.13, while the S&P 500 finished trading at 2,670.14, down 22.99 (-0.85 percent) for the day.
Crude oil prices remained flat at over $68 per barrel.
Winners and Losers: Shares of Apple tumbled 4.10 percent, dragging the tech-heavy Nasdaq lower. Morgan Stanley lowered the stock’s price target, predicting weaker iPhone sales this summer.
General Electric’s quarterly earnings topped investors’ expectations and its stock climbed 3.93 percent.
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