Apple’s stock drop after earnings can be blamed for more than half of Dow futures’ decline

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Shares of Apple Inc. AAPL, -1.82% sank 3.7% early Friday, to pace the Dow Jones Industrial Average’s DJIA, +0.25% premarket decliners by a wide margin, in the wake of the technology behemoth’s disappointing fiscal fourth-quarter results. The stock’s implied price decline would shave about 37 points off the Dow’s price, while Dow futures YM00, +0.10% fell 69 points, or 0.2%, with 17 of 30 components trading lower. The next biggest Dow loser ahead of Friday’s open is Merck & Co. Inc. shares MRK, +1.73%, which slipped 0.6%. The biggest gainer was Chevron Corp.’s stock CVX, +1.21%, which rose 2.0%, to add about 15 points to the Dow’s price, after big third-quarter profit and revenue beats.

This article was originally published by Marketwatch.com. Read the original article here.

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