Nasdaq falls as Apple loses $100 billion in market capitalization
The S&P 500 and Nasdaq Composite dropped 0.6% and 1.6%, respectively, on the first day of 2019, as investors punished tech stocks. The Dow Jones industrial average closed up 0.1%. The decline in tech stocks was led by Apple, which fell after Barclays downgraded its rating on the company. Nvidia also experienced a decline after […]
The S&P 500 and Nasdaq Composite dropped 0.6% and 1.6%, respectively, on the first day of 2019, as investors punished tech stocks. The Dow Jones industrial average closed up 0.1%.
The decline in tech stocks was led by Apple, which fell after Barclays downgraded its rating on the company. Nvidia also experienced a decline after the Dutch government told ASML, which is a major supplier of equipment for the semiconductor industry, to stop selling to China.
On Tuesday, Bitcoin rose above $45,000 as investors waited for the SEC’s decision on one of the applications for an exchange-traded fund that would allow them to trade the cryptocurrency.
The decline in stocks last week ended an otherwise successful year for the market, with the Dow Jones industrial average rising 14%, the S &P 500 gaining 24%, and the Nasdaq Composite climbing 43%.
