Stocks decline after Apple warns of coronavirus fallout
Stocks fell Tuesday as a forecast warning from tech giant Apple stoked worries over the coronavirus and its impact on corporate profits and the global economy.
The Dow was down more than 200 points, on pace for its third down day in a row. The S&P 500 dropped 0.5%, while the Nasdaq slid 0.2%. U.S. markets were closed Monday for Washington's Birthday.
The major averages were coming off a record-setting week as they set all-time highs.
Apple cautioned it does not expect to meet its quarterly revenue forecast, citing slowed production and weakened demand in China as a result of the coronavirus outbreak. The most valuable company in the U.S. initially said it expected to report net sales between $63 billion to $67 billion in its fiscal second quarter.
https://www.msn.com/en-us/money/markets/stocks-decline-after-apple-warns-of-coronavirus-fallout/ar-BB106RZz?ocid=hplocalnews
