Wednesday 26 July 2017

Apple and Microsoft suffer shares slump

Apple
Apple
Independent.ie Newsdesk

Independent.ie Newsdesk

Technology shares have closed solidly lower after Apple and Microsoft turned in disappointing results.

Apple fell 4.3% after he company gave a cautious outlook for the current quarter and did not provide much detail on how its new smartwatch was doing.

Microsoft fell 3.7% after booking a huge loss related to its purchase of Nokia.

The Dow Jones industrial average gave up 68 points, or 0.4%, to 17,851.

The Standard & Poor's 500 index fell five points, or 0.3%, to 2,114. The Nasdaq composite declined 36 points, or 0.7%, to 5,171.

Bond prices did not move much while the yield on the 10-year Treasury note held steady at 2.33%.

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