New York Report: Apple fails to boost Wall St

US STOCKS fell yesterday as Apple shares declined and amid concerns that the Federal Reserve could raise interest rates sooner than expected.

The Dow Jones fell 97.55 points or 0.57 per cent, to 17,013.87, the S&P 500 lost 13.1 points or 0.65 per cent, to 1,988.44. The Nasdaq Composite dropped 40 points or 0.87 per cent, to 4,552.29.

Apple shares, which jumped as much as 4.8 per cent earlier in the session after the company unveiled a smartwatch, ended down 0.4 per cent at $97.99. Apple also announced two larger iPhones.

Among the most active stocks on the NYSE were Brazil’s Petrobras, down 2.83 per cent to $17.83 and drugs giant Pfizer, down 0.58 percent at $29.23.

Besides Apple, Yahoo, down 2.5 per cent at $40.78, and Microsoft, up 0.6 per cent to $46.76 were among the most actively traded on Nasdaq.