Apple's stock suffering the biggest selloff in 5 months, acts as the Dow's biggest drag
Shares of Apple Inc. took a 3.8% dive in afternoon trading Friday, putting them on track for the biggest one-day drop in five months, as the technology giant contributed to the broad-market selloff. Apple's stock price decline of $12.30 made it the biggest drag on the Dow Jones Industrial Average , as it shaved about 83 points off the Dow's price, which was tumbling 588 points. Apple's selloff comes just two days after it closed at a record high of $324.34, after a big earnings beat. What could be weighing on Apple's stock is the company's exposure to China, given concerns over the fast-spreading deadly coronavirus out of Wuhan, China. About 15% of Apple's total sales was derived from Greater China, according to Apple's latest quarterly filing with the SEC. Apple's stock is headed for the biggest one-day percentage decline sine it fell 4.6% on Aug. 23, 2019, which was the day the Dow tumbled 623 points.
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