The United States major indices opened lower below their previous closes on Friday. The reason behind is, “Fall in the shares of Apple and its suppliers, including Advanced Micro Devices and Qualcomm, following a report that the iPhone Maker was planning to produce fewer new phones this year than the last one”. Apple told its suppliers to prepare roughly 20% fewer iPhone components for new devices launching later this year.
This led to falling of major indices like NASDAQ, S&P 500, and the Dow Jones Industrial Average.
Dow Jones fell 26.52 points, or 0.11 percent, to 25,214.89. The S&P 500 lost 3.58 points, or 0.129225, to 2,766.79. And the NASDAQ Composite dropped 24.90 points, or 0.33 percent, to 7,610.17.