REFILE-US STOCKS-Apple, Philip Morris, chips lead slide on Wall Street [Reuters]
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Source: Reuters
Apple, Philip Morris, chips lead slide on Wall Street | Reuters 4 Min Read (Reuters) - U.S. stocks fell on Thursday, as technology stocks from Apple to chipmakers declined following a weak forecast on smartphone demand, while a sharp drop in Philip Morris’s ( PM.N ) shares after results weighed on the consumer staples sector. A warning from Taiwan Semiconductor (TSMC) ( 2330.TW ), the world’s largest contract chipmaker and Apple supplier, on soft demand for smartphones and on the semiconductor industry’s growth this year sparked a tumble in chip stocks. Apple’s ( AAPL.O ) shares also fell 2.4 percent, with analysts telling Reuters that TSMC’s warning was related to the iPhone maker. Apple was the biggest drag on the Dow Jones Industrial Average and the Nasdaq. TSMC’s ( TSM.N ) U.S.-listed shares fell 5.8 percent. Intel ( INTC.O ) declined 3.1 percent, falling the most on the Dow. All the stocks on the Philadelphia SE semiconductor index .SOX were in the red, with the index i
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