The market refuses to give an end-of-year bounce -- and I don't buy the explanation that it's all tax-loss selling. Read More...
MarketWatch
Apple stock slumps toward lowest close in 18 months, worst yearly performance since 2008
Shares of Apple Inc. (AAPL) slumped 1.7% in afternoon trading, enough to pace the Dow Jones Industrial Average’s (DJIA) decliners, as they flirted with their first sub-$130 close in 18 months. Weighing on the technology behemoth’s stock were fears of a COVID surge in China, where a lot of components for Apple’s products are made, after China-based electric vehicle maker Nio Inc. (NIO) lowered its delivery outlook amid COVID-related production challenges. Apple’s stock has tumbled 12.4% in December, putting it on track for the weakest monthly performance since it shed 12.8% in May 2019, and the first December drop since 2018.
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