As Wall Street tumbles, my concentration is on full faith and credit pledge U.S. treasuries. Reuters‘ Caroline Valetkevitch reports on the market:
The Nasdaq fell 3 percent on Monday as investors dumped Apple, internet and other technology shares.
Shares of Apple Inc fell after the Wall Street Journal reported the company had cut production orders in recent weeks for all three iPhone models launched in September.
The iPhone maker’s stock dropped 4.0 percent to $185.86 and is now down 19.9 percent from its Oct. 3 record closing high in the wake of a disappointing holiday quarter sales forecast.
Other market leaders – including the ‘FANG’ stocks – also fell sharply. Shares of Facebook were down 5.7 percent, Amazon.com was down 5.1 percent, Netflix fell 5.5 percent.
Read more here.