Dow Drops 500 Points as Apple, Amazon and Facebook Fall
Stocks dropped sharply on Monday as some of the largest technology shares and lingering worries about global trade pressured the broader market.
The Dow Jones Industrial Average fell 500 points, led by a decline in Apple. The S&P 500 dropped 1.9 percent as the technology sector pulled back 3.9 percent. The tech-heavy Nasdaq Composite lagged, falling 3 percent as Amazon dropped 4.2 percent.
Apple led tech shares lower after The Wall Street Journal reported the company has cut production orders for the new iPhones unveiled earlier this year.