Stocks fell sharply on Monday after achieving record highs last week, with the Dow Jones industrial average going down by more than 100 points. The decline was caused by media reports indicating concerns about the demand for the new iPhone X. Apple stocks fell by 2.6% after the company announced that it will cut down production levels of its newest smartphone to half.<\/p>\n
Technology stocks fell by 0.50% in most US markets, but the industries who had the most to suffer were the real estate and communications sectors, which fell by more than 0.8%. US Treasury yields have reached their highest level since 2014.<\/p>\n
Some analysts suggested that this decline in the beginning of this week is a profit-taking after last week, with many events taking place. This week we\u2019ll be seeing a wide range of corporate earnings reports, in addition to the Federal Reserve monetary policy meeting, and finally, the US jobs report over the weekend.<\/p>\n
The strong results of the S&P 500 companies led to an increase in analysts’ estimates and expectations of a rise in corporate profits in the fourth quarter of 2017, from 12% at the beginning of the year, to 13.2%. This will help Wall Street gain its strongest momentum in the first weeks since 2016.<\/p>\n
The Dow Jones Industrial Average fell by 0.37%, to reach 26.517 points, while the Caterpillar fell by 2.3% and S&P dropped by 0.37%, to 2,861 points. The decline and the slow pace of the Standard Index led to increased concern in the markets, causing the Nasdaq Composite Index to drop by 0.3%, to 7.482 points.<\/p>\n
The VIX volatility index, which measures the stock market’s volatility expectations, reached 12.98 points, its highest level since the beginning of December. Telecom stocks were also affected by reports that the US government plans to build a high-speed wireless network to counter China’s spy on calls. Verizon, Sprint and T-Mobile all dropped by 0.8%.<\/p>\n
Dr Pepper Snapple Group rose to a record high of 32.4% after Keurig Green Mountain stated it would buy the company for $21 billion.<\/p>\n
Losing stocks outnumbered the growing ones by 2,329 to 604 and on the Nasdaq, 1,891 shares advanced and 988 shares advanced.<\/p>\n","protected":false},"excerpt":{"rendered":"
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