Crumbles by commodities and the Colossus of Cupertino have been getting much of the blame for the stock market slumping in seven of the past 10 sessions.
“If AAPL doesn’t find its footing soon, it may risk a deeper drop,” writes Andrew Nyquist, over at See It Market.
And as goes the largest company by market value, so goes the whole U.S. stock market. Or at least a further slide by Apple would act as a mighty powerful brake on the S&P 500 SPX, -0.22% SPY, -0.20% , where it’s about 4% of the benchmark, and on the growthier Nasdaq 100 NDX, -0.28% QQQ, -0.19% where it’s a 14% chunk.
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