Apple share price drop following iPhone 6S launch and oil sees Wall St end down – New York Report

US shares ended almost 1.5 per cent lower on yesterday, after rallying the day before, led by declines in Apple shares and in energy companies, which fell with oil prices.

 

The Dow Jones industrial average fell 239.11 points, or 1.45 per cent, to 16,253.57, the S&P 500 lost 27.37 points, or 1.39 per cent, to 1,942.04 and the Nasdaq Composite dropped 55.40 points, or 1.15 per cent, to 4,756.53.

 

Apple shares ended down 1.9 per cent at $110.15 in heavy trading, erasing earlier gains as it launched new iPhones, iPads and Apple TVs  in San Francisco.

 

Among Apple’s suppliers, Qualcomm shares fell 1.6 per cent at $54.32, Skyworks Solutions was down 1.5 per cent at $86.42 and Avago Technologies was down 1.5 per cent at $127.17. US-traded shares of STMicroelectronics  fell six per cent to $7.04.

 

 

Energy led declines among S&P 500 sectors, falling 1.9 per cent as US oil prices settled down 3.9 per cent. Chevron was down 2.5 per cent at $74.92.

 

The volatile session reversed early gains of as much as one per cent. Indexes had rallied more than two per cent on Tuesday.

 

Barnes & Noble fell 27.6 per cent to $11.80. The largest US bookstore chain reported a decline in sales for the fifth consecutive quarter.

 

Tetraphase Pharmaceuticals sank 78.8 per cent to $9.49 after its experimental bowel drug failed to meet the main goal in a late-stage study.

 

Netflix, which was up 4.4 per cent at $99.18, broke a seven-day losing streak and was among the biggest boosts to the S&P 500.