Technology stocks led US equity markets lower - Dow fell -354-points or -1.31%, with Apple Inc (down -4.55%) and Microsoft Corp (-4.35%) accounting for more than half of the index’s losses. Apple is reportedly delaying a fall launch event for its next batch of iPhones to the “latter half of October.” according to a Japanese technology blog. A US$1 move in any one of the 30 components of the Dow results in a 6.86-point swing. The S&P500 shed -1.32%, snapping a four session winning streak. Information Technology (down -2.63%) – which represent 27% of the weighting of the broader index – and Consumer Discretionary (-2.03%) led eight of the eleven primary sectors lower. The technology-centric NASDAQ dropped -2.29%. Amazon.com Inc and Netflix Inc dropped -3.6% and -2.5%, respectively. Tesla Inc fell -4.98% despite bettering Wall Street’s earnings expectations for a fourth quarter in-a-row after the closing bell of the previous session. The small capitalisation Russell 2000 index settle little changed.
