US stocks closed lower
Wednesday, 22 July 2015
US stocks closed lower on Tuesday as results from IBM and United Technologies that dampened early optimism over earnings season, and after-the-bell declines in major tech shares suggested losses would continue on Wednesday. Among others, shares in Apple Inc tumbled 8 per cent. The Dow fell over 1 per cent, or about 209 points, with IBM and United contributing around 127 points to the fall. IBM's shares fell as much as 6.3 per cent to $162.43. United Technologies fell as much as 7.9 per cent to $101.78. Apple, Microsoft and Yahoo are scheduled to report results after market close. At 13:01 pm ET (1701 GMT), the Dow Jones Industrial Average was down 206.51 points, or 1.14 per cent, at 17,893.9, the S&P 500 was down 9.78 points, or 0.46 per cent, at 2,118.5. The Nasdaq composite was down 12.11 points, or 0.23 per cent, at 5,206.75. Declining issues outnumbered advancers on the NYSE by 1,752 to 1,218. On the Nasdaq, 1,510 issues fell and 1,171 advanced. The S&P 500 index showed 28 new 52-week highs and 21 new lows, while the Nasdaq recorded 83 new highs and 87 new lows, according to Reuters.