U.S. stock markets fell on Thursday as Apple Inc. slumped a day after introducing its iPad tablet computer and Qualcomm Inc. lowered its sales forecast.
The technology-heavy Nasdaq 100 Index dropped 2.22%, while the Dow Jones Industrial Average Index fell 0.82% and the S&P 500 Index slid 0.7%.
Qualcomm, the biggest maker of mobile-phone chips, plunged 12.44% in the wake of CEO Paul Jacobs’ attribution of a lower revenue projection to a “subdued” economic recovery.
Meanwhile, Apple dropped 3.06%, erasing Wednesday gain.
The declines also came after the release of disappointing data on durable goods orders in December and jobless claims last week.