Stocks fall as Dow faces 4th day of losses; Apple sinks

August 05 01:08 2015

Stocks were slightly lower in lackluster trading Tuesday as shares of Apple fell further, helping to push the Dow towards a fourth straight day of losses. Oil prices moved higher and returned above $46 a barrel as crude recovered some of Monday’s 3.8% drop. At midday, the Dow Jones industrial average was down 0.2% and the Standard & Poor’s 500 index dropped 0.1%. The Nasdaq composite index fell  0.2%. U.S. benchmark crude rose 2% to $46.07 a barrel.the-percentage-of-americans-playing-the-stock-market-is-at-an-all-time-low

Shares of Apple (AAPL) fell 3.5%, making it the biggest losing stock of the Dow. The tech giant is under pressure as worries about an economic slowdown in China raises concerns about its biggest growth market. The stock has entered correction territory and is now down almost 15% from its highest point of the year. Investors were looking ahead to Friday’s employment report for June and what the data will mean for the timing of a potential interest rate hike by the Federal Reserve.

Overseas, Greek stocks suffered a second day of losses as Greek banking stocks once again fell by around 30%, the daily limit. The Athens Stock Exchange in Greece closed donw 1.2% to 659.94 after being down as much as 4.9% in early trading Tuesday. That comes on top of the 16% drop on Monday.

Other European stock markets were mixed as  Germany’s DAX rose 0.1%, France’s CAC 40 dropped 0.2% and Britain’s FTSE 100 was flat. Asian stocks were slightly lower as weak Chinese manufacturing weighed on sentiment and investors looked to a U.S. jobs report later this week that could cement expectations for a Fed interest rate hike. Japan’s Nikkei 225 index lost 0.1% while Hong Kong’s Hang Seng index lost 0.02%. China’s Shanghai Composite initially fell before recovering and closed up 3.7%