AM Report 20 Apr 18: Tech slump and higher USD rattled markets

US sharemarkets fell on Thursday. While banks and energy stocks rose, other sectors weakened as investors mulled the potential for higher interest rates later this year. Shares in P&G, Apple and Intel fell most in the Dow Jones index. Shares in Apple fell by 2.8% after a warning of soft demand for smartphones from Taiwan Semiconductor, the world's largest contract chipmaker. Shares in Philip Morris lost 15.6% after its earnings results. The Dow Jones index fell by 83 points or 0.3% after being down 191 points earlier in the session. The S&P 500 index fell by 0.6%, while the Nasdaq fell by 57 points or 0.8%.

 

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