Strong Week Ends Slightly Lower

Apple fell to its worst loss in more than four years
By Newser Editors and Wire Services
Posted Nov 2, 2018 3:16 PM CDT
Gregg Maloney, left, and Timothy Nick work on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks closed lower on Wall Street as Apple fell to its worst loss in more than four years, the AP reports. Even with Friday's losses the market still wound up higher for the week thanks to gains over the past three days. Apple sank 6.6% after forecasting weak revenue. The company also startled investors by saying it will stop disclosing quarterly iPhone sales. A sharp increase in bond yields hurt high-dividend stocks. The S&P 500 index fell 17 points, or 0.6% to 2,723. The Dow Jones Industrial Average fell 109 points, or 0.4%, to 25,270. The tech-heavy Nasdaq composite lost 77 points, or 1%, to 7,356. Bond prices fell. The yield on the 10-year Treasury note rose to 3.21%.

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