Wall Street falls on weak global data; Apple stumbles
By Rodrigo Campos
Reuters.com
Mon Dec 1, 2014
(Reuters) – U.S. stocks fell in early trading on Monday as manufacturing growth across Asia and Europe eased in November, while consumer stocks were pressured as Thanksgiving weekend in-store sales failed to impress.
Apple (AAPL.O) shares suddenly tumbled shortly after the open, falling more than 3 percent in a minute that also saw the largest one-minute volume in more than a month. The stock was the largest weight on the S&P 500, recently down 2.6 percent at $115.88.
Oil prices have been volatile in morning trading, with both Brent and U.S. crude up sharply after hitting five-year lows. The energy sector of the S&P 500 was however down 0.6 percent.
Industrials were the worst-performing sector in the S&P as the U.S. manufacturing sector’s growth rate slowed for a third straight month in November to its lowest rate of growth since January, according to Markit. The ISM report also showed a slowing pace of growth, though it was stronger than expected.
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