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Midday Report: Apple Supplier Jabil Circuit Disappoints; Stocks Down

Stocks declined on a multitude of worries from a possible Brexit to crude oil returning to below $47 a barrel.

Stocks declined on a multitude of worries from a possible Brexit to crude oil returning to below $47 a barrel. A less-hawkish Federal Reserve also raised worries over the health of the U.S. economy. Homebuilder sentiment in the U.S. improved in May, another sign of a robust housing sector. The National Association of Home Builders' index increased after four months remaining unchanged. Homebuilders were most optimistic about the six-month outlook. Chipmaker Cavium (CAVM) fell after agreeing to buy network equipment maker QLogic (QLGC) in an effort to diversify from the competitive semiconductor market. Apple (AAPL) - Get Report supplier Jabil Circuit (JBL) - Get Report issued weak guidance for its fiscal fourth quarter and full year.

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