Wall Street reverses gains as Apple pulls tech stocks lower [Reuters]
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Source: Reuters
Wall Street reverses gains as Apple pulls tech stocks lower | Reuters 3 Min Read (Reuters) - U.S. stocks turned lower on Wednesday as Apple Inc ( AAPL.O ) led a decline in technology stocks, offsetting early support from tame U.S. consumer prices data and a rebound in oil prices. The iPhone maker’s shares fell 2 percent, extending its losses for the fifth straight day. A raft of profit warnings from Apple’s suppliers has fueled investor concerns that iPhone sales, in terms of volume, have hit a wall. The S&P; technology index .SPLRCT was down 0.8 percent, hurt by losses in Microsoft Corp ( MSFT.O ) and Adobe Inc ( ADBE.O ). Markets earlier got a boost from data that showed U.S. consumer prices increased 0.3 percent in October amid a rise in gasoline and rental costs, but were in line with expectations. The S&P; energy index .SPNY which had risen in morning trade on a rebound in oil prices, following a 7 percent plunge on Tuesday, also gave up gains. “The markets never really lef
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