Airlines and Apple hurt US - New York Report

US STOCKS ended lower yesterday as investors worried about Greece and mulled the prospect of the Federal Reserve raising interest rates as early as September.

The Dow Jones industrial average fell 82.91 points, or 0.46 per cent, to end at 17,766.55. The S&P 500 lost 13.55 points, or 0.65 per cent, to 2,079.28 and the Nasdaq Composite dropped 46.83 points, or 0.92 per cent, to 5,021.63.

Apple weighed most on the Nasdaq Composite and the S&P 500. It was down 0.66 per cent to $127.80 after the iPhone maker unveiled a new music service.

Airline stocks fell 4.34 per cent, with JetBlue slumping 7.22 per cent, as Qatar Airways asked the industry’s largest trade group to address protectionism, hitting back against US airlines campaigning to restrict competition from Gulf carriers.

Tesla rose 2.87 per cent after plans for its Gigafactory got a boost from Panasonic’s move to start sending its employees to the plant.

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