Markets lose earlier gains heading into the close, Apple weighs down tech stocks

Yahoo Finance's Ines Ferre looks at today's biggest market movers, including Apple.

Video Transcript

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DAVE BRIGGS: All right. We're just 2 minutes away from the closing bell and the markets have taken a turn for the worse. A lot of red on the board. Let's find out why from Yahoo Finance's Ines Ferre. Hi, Ines.

INES FERRE: Hi, Dave. And what a day it's been because a couple of hours has really made a difference. Take a look at our YFi Interactive board.

You can see the major averages that had opened in the green this morning. In fact, the Dow had been up about 300 points earlier today. Now it's down more than 200 points. That's a 500 point swing. The NASDAQ composite was up 1.4% this morning. Now it's down 0.8%. The S&P 500 also set to end the session lower.

Now, a lot of this has to do after a headline came out that Apple was going to be slow in hiring, and so Apple dragged down itself and other tech stocks as well. So you can see XLK being in the red. Health care had been in the red this morning when we opened utilities as well. Energy stocks outperforming today. Consumer discretionary outperforming, but still, off of those highs from earlier this morning session.

And then taking a look at the NASDAQ 100. On the left hand side of the screen, you can see Apple down 2%. Alphabet, which had been in the green this morning, down more than 2%. Amazon had been up 2%. Right now it's up about 0.2%.

And Tesla losing the gains from earlier this morning. Tesla was added to the Best Ideas list, by the way, at Deutsche Bank. Looking at the travel stocks these are in the green.