Nasdaq leads stock market lower as Apple extends slump

📆 9/7/2023 10:55 AM
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U.S. stocks trade lower Thursday, continuing to struggle on expectations rates will remain elevated for some time. Apple shares extend their slump.

U.S. stocks were mostly lower early Thursday, with the Nasdaq Composite leading the way down as Apple Inc. shares extended their slump and as investors continued to fret over expectations the Federal Reserve will be forced to keep interest rates elevated for some time to wring out inflation.

Currencies: A rising U.S. dollar is ringing alarm bells overseas. Should stock-market investors worry? The yield on the 10-year Treasury BX:TMUBMUSD10Y was 4.27%, after closing Wednesday at its fourth-highest level of the year.Data released Thursday continued the good-news-is-bad-news dynamic, showing that first-time jobless benefit claims fell by 13,000 to 216,000 in the week ended Sept. 2. This is the lowest level since mid-February.

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