U.S. stocks slide, despite Asian gains; Apple weighs

Wed Sep 9, 2015 6:44pm EDT
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By Rodrigo Campos

NEW YORK (Reuters) - U.S. stocks fell on Wednesday, weighed down by a slide in Apple's share price and weakness in the energy sector, though European and major Asian bourses earlier ended higher.

Oil prices ended sharply lower, pressured by ongoing concerns about oversupply and bets that demand may slow with global economic growth. [O/L]

"Investors are still looking for policy developments out of China, and also wary of what might come out of the Fed next week," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

The Dow Jones industrial average .DJI fell 1.45 percent, to 16,253.57, while the S&P 500 .SPX lost 1.39 percent to 1,942.04 and the Nasdaq Composite .IXIC ended down 1.15 percent at 4,756.53.

Shares of Apple (AAPL.O: Quote) ended down 1.9 percent at $110.15 in heavy trading, after its latest product launch failed to meet expectations.

U.S. energy stocks .SPNY led declines among S&P 500 index stocks, falling 1.9 percent as U.S. oil prices CLc1 fell 3.9 percent. Chevron CVX.N was down 2.5 percent at $74.92.

The pan-European FTSEurofirst 300 index .FTEU3 rose 1.4 percent and the JP Morgan world equity index .MIWD00000PUS gained 0.3 percent.

Earlier Wednesday major stock markets had rallied on expectation of increased government support from China and the possibility that Japan will cut corporate taxes.   Continued...

Traders work on the floor of the New York Stock Exchange September 8, 2015. REUTERS/Brendan McDermid