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April 29, 2016

Apple pulls stocks lower

By MARLEY JAY
AP Markets Writer

NEW YORK — U.S. stocks took their biggest loss in three weeks on Thursday after a late sell-off. Apple, which is mired in a slump, fell to its lowest price in about two months and dragged the tech sector sharply lower.

Tech stocks, which rose early on thanks to earnings gains from Facebook and PayPal, slumped after billionaire investor Carl Icahn disclosed that he'd sold his stake in Apple. Icahn wasn't a major shareholder in the tech giant, but his moves are closely watched by many investors.


 
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