US stock market: S&P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters
Nasdaq fell on Thursday, with the biggest drag from Apple and weakness in chip stocks over concerns about China's iPhone curbs, while a fall in weekly U.S. jobless claims fed worries about interest rates and sticky inflation.
Shares in S&P heavyweight Apple Inc fell for a second straight day on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.
Bloomberg reported that China planned to broaden the iPhone ban to state firms and agencies.
The drag from Apple, its suppliers and companies with large China exposure pushed the S&P 500 technology sector lower making it the biggest percentage decliner among the benchmark's 11 major sectors during the session.
A U.S.
Labor Department report showed the number of Americans filing for unemployment claims fell to 216,000 for the week ended Sept. 2, hitting the lowest level since February.
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