Apple, Microsoft Sink Stocks; Baker Hughes' Volatile Afternoon

Apple (AAPL) and Microsoft (MSFT) dragged on benchmark indexes. Apple tumbled after sales forecasts disappointed and quarterly iPhone sales missed their targets, while Microsoft slid after reporting future revenue would take a hit on currency exchange. Stocks closed their second straight day in the red with the Nasdaq the worst performer as the technology sector sold off. Medical tech developer Illumina (ILMN) stumbled after missing earnings and revenue expectations in its second quarter. It was the first time the company had missed sales targets since its third quarter 2009. Chipotle (CMG) was one of the best performers on the S&P 500 even as same-restaurant sales cooled off to just over 4% growth, down from explosive double-digit gains in recent quarters.