Stocks Close Lower After Late Slump

But Apple surges
By Newser Editors and Wire Services
Posted May 2, 2018 3:21 PM CDT
Stocks Close Lower After Late Slump
Specialist Michael Pistillo, left, and trader Jonathan Corpina work on the floor of the New York Stock Exchange, Wednesday, May 2, 2018.   (AP Photo/Richard Drew)

Stocks are closing mostly lower following a late slump Wednesday, as Apple jumped but health care and food and drink makers fell, the AP reports. Apple advanced 4.4% after it announced a $100 billion stock buyback and met Wall Street's estimates in its fiscal second quarter. In health care, drugmaker Gilead Sciences dropped 8.2%. Beer brewer Molson Coors tumbled 15.4% after it said US sales slowed. The S&P 500 index slid 19 points, or 0.7%, to 2,635. The Dow Jones industrial average was down 174 points, or 0.7%, at 23,924. The Nasdaq composite fell 29 points, or 0.4%, to 7,100. (Read more stock market stories.)

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