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left-of-center2012

(34,195 posts)
Mon Nov 12, 2018, 07:06 PM Nov 2018

Dow plunges 600 points

The Dow Jones Industrial Average fell 602 points on Monday after a big decline in Apple shares, a rise in the U.S. dollar and lingering worries about global trade weighed on investor sentiment.

Monday's losses bring the Dow's decline over the past two sessions to 804 points.

In late-afternoon trading, the major indexes hit their lows of the day after Bloomberg News reported the White House was circulating a draft report on auto tariffs. Shares of General Motors turned negative following the report.

Apple shares tanked by 5 percent after Lumentum Holdings, which makes technology for the iPhone's face-recognition function, cut its outlook for fiscal second quarter 2019. The decline in Apple pressured the broader technology sector. The Technology Select Sector SPDR dropped 3.5 percent. Alphabet and Amazon shares pulled back 2.7 percent and 4.3 percent, respectively. Amazon shares fell into bear-market territory, down about 20 percent from its 52-week high.

https://www.cnbc.com/2018/11/12/stock-market-dow-futures-lower-on-thin-trading-on-veterans-day.html

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