BUZZ-U.S. Stocks on the Move-Apple, Retailers, MOL Global, Big Lots
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U.S. stocks fell at the open on Monday as manufacturing growth across Asia and Europe eased in November, while retailers could be pressured as Thanksgiving weekend in-store sales failed to impress. The Dow Jones industrial average was down 0.21 percent at 17,789.99, the S&P 500 was down 0.66 percent at 2,053.87 and the Nasdaq Composite was down 1.19 percent at 4,734.53.
** APPLE INC, $115.73, -2.69 pct
The iPad maker's shares tumbled in early trading, briefly suffering their largest price drop in at least three months on an unusual spike in volume. The cause of the decline was not yet clear. Morgan Stanley strategists dropped Apple's weighting in their strategic portfolio to 3 percent from 4 percent in an equity outlook note released Monday, but traders said the swiftness of the decline was too dramatic to be attributed solely to the note. Traders pointed to high-speed algorithmic trading programs as a potential culprit.
Graphic on Apple's slide (link.reuters.com/vys53w)
Apple leads sharp slide in tech shares
** FACEBOOK INC, $75.545, -2.77 pct
** ALIBABA GROUP HOLDING LTD, $106.79, -4.34 pct Continued...