While Facebook and DreamWorks earnings surge, Apple’s longest six-day losing streak causes Dow Jones Industrial Average the worst day ever in over two months.
Let’s get down with some data and declining corporate earnings. Dow Jones Industrial Average lost 210.79 points, or should we say 1.2%, to close at 17,830.76. Now, Apple’s earnings plummeted and remained low for six days and counting which is the longest losing streak in three years. With this outcome, billionaire Carl Icahn decided to sell his own entire stake in the company as he mentioned its inability to grow sales.
We should also mention that the S&P 500 went to 19.34 points (0.9%) to close at 2,075.81. On the other hand, the Nasdaq Composite fell 57.85 points (1.2%) to close at 4,805.29.
What could happen more? Find out why.