Apple stocks drag on US markets – BBC News

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Apple stocks drag on US markets

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(Open): Wall Street markets opened lower on Thursday as shares of Apple fell and energy stocks slipped.

Minutes into trading, the Dow Jones Industrial Average was down 19.59 points, or 0.11%, at 17,770.08.

The S&P 500 index lost 3.88 points to 2,095.45, while the tech-focused Nasdaq dropped 10.79 points to 4,941.46.

Apple shares fell 1.4% after Goldman Sachs cut its price target for the company due to an expected decline in smartphone sales.

Energy stocks were also down, despite a gains in oil prices following a report that US stockpiles of crude oil were shrinking.

Exxon Mobile shares were down 1.3%. Chevron was 0.6% lower.