Skip to main content

The Dow Falls From Record High as Markets Wait on the Fed

Apple shares fell nearly 2% Thursday
  • Author:
  • Publish date:

Markets continued their downward trajectory throughout a dismal day of trading Thursday, falling from recent record highs.

The Dow Jones fell 0.24%, its first down day in ten sessions while the S&P fell 0.3% and the Nasdaq dropped 0.52%.

Lack of a concrete indicator following the Federal Reserve's meeting Thursday helped send markets lower, though the central bank did say that it will begin lowering its balance sheet with a reduction of up to $10 billion a month starting in October.

The Fed holds $4.5 trillion in Treasury securities and mortgage-backed assets on its balance sheet.

Apple (AAPL) shares took a big hit Thursday, falling 1.72% on heavy volume after the company admitted to glitches in its new Apple Watch that hindered wireless connectivity.

Meanwhile, Advanced Micro Devices (AMD) seemed to be one of the day's winners after the company announced that it was working on a program to help Tesla design its own self-driving car chips. However AMD's shares also fell 2.4% Thursday.