Friday 19 January 2018

Apple and Microsoft suffer shares slump

Apple Newsdesk 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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