Apple leads Wall St retreat from record high amid report on iPhone X demand


Wall Street's major indexes dropped on Tuesday, easing from record levels hit last week, weighed down by a slump in Apple after a media report added to concerns about demand for the iPhone X. Apple fell as much as 2.6 percent in early trading after the Nikkei said the company will halve the production target for its flagship iPhone X this quarter.

The report added to growing concerns around weak sales of the $999 phone ahead of Apple's quarterly results on Thursday. The technology sector's 0.75 percent drop weighed.

This article is no longer available in our repository.

There could be multiple reasons for this.