NEW YORK U.S. stocks opened lower on Thursday, a day after Apple Inc (AAPL.O) reported revenue that missed expectations, tanking the stock and weighing on technology shares.
As the most valuable U.S. company and a heavy weight in both the S&P 500 and Nasdaq 100, a decline in Apple shares has an outsized impact on the broader market. Apple dropped 10.5 percent to $459.84 in early trading.
The Dow Jones industrial average was up 21.73 points, or 0.16 percent, at 13,801.06. The Standard & Poor's 500 Index was down 2.16 points, or 0.14 percent, at 1,492.65. The Nasdaq Composite Index was down 24.98 points, or 0.79 percent, at 3,128.69.
(Reporting by Ryan Vlastelica; Editing by Bernadette Baum)
Trending On Reuters
India GDP Data
India's economy grew faster than China's in the quarter through March, data showed on Friday, but a sharp downward revision for the previous quarter fuelled doubts about the accuracy of a new method used to measure economic activity. Read | Graphic