Why Apple, Meta Platforms, and Salesforce Stocks Traded Lower on Tuesday
A broad cross-section of technology stocks dipped on Tuesday, as Wall Street focused on macroeconomic headwinds and the resulting challenges for businesses.
iPhone maker Apple (NASDAQ: AAPL) was down as much as 2.3% on Tuesday morning, social media giant Meta Platforms (NASDAQ: META) slipped as much as 2%, and customer relationship management (CRM) specialist Salesforce (NYSE: CRM) was off by as much as 1.1%. As of market close on Tuesday, the trio had recovered somewhat, but shares were still trading lower, down 1.5%, 1.3%, and 0.3%, respectively. These stocks were dragged lower by the broader market, as the S&P 500 and Nasdaq Composite each declined by roughly 1.1%.
There was very little company-specific news behind the sell-off, but a key economic indicator pointed to spiraling costs for qualified workers.
Source Fool.com
