TOCKS fell in a broad decline yesterday, with the S&P 500 suffering its biggest one-day drop in more than a month, as economic data indicated weakness across the globe and the holiday shopping season got off to a tepid start.
The Dow Jones industrial average fell 51.44 points, or 0.29 per cent, to 17,776.9, the S&P 500 lost 14.12 points, or 0.68 per cent, to 2,053.44 and the Nasdaq Composite dropped 64.28 points, or 1.34 per cent, to 4,727.35.
Apple was one of the biggest weights on the session, falling 3.2 per cent to $115.07 in its biggest one-day decline since September in what some traders deemed a “mini-flash crash”.
With oil prices continuing to hover around the $70 a barrel mark, Exxon Mobil rose two per cent to $92.35, while Chevron was up 2.6 per cent to $111.73. Both stocks limited the Dow’s decline.