Dow declines and NASDAQ takes a nose-dive

New York City, NY, United States (AHN) – U.S. stocks sold-off on Wednesday dragged down by disappointing earnings from Apple and weak economic data that revealed the U.S. economy continues to grow at a weakened pace.

The Dow Jones Industrial Average closed down 72.43 to finish the day at 11, 504.62.

The Standard & Poor’s 500 Index fell 15.50 to close at 1,209.88. The tech heavy NASDAQ sunk 53.39, or 2.05 percent, to 2,604.04. Gold lost just over $2 an ounce and oil closed a hair lower at $86.09 a barrel.

Shares of Apple plunged 23.62, or more than 5 percent, closing at 398.62. The iPhone, iPod, and iPad maker failed to impressive analysts with its weaker than expected earnings. Shares continued to decline in after hours trading.

Trading was light on Wednesday as nervous, cautious and hesitant investors continue to sit on the sidelines as volatile markets and geo-political risks persist.

View full post on All Stories