Stocks Slide as Yields Climb; Apple and Boeing Shares Drop on Regulatory Issues
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Stocks fell as Treasury yields and the dollar advanced to start the holiday-shortened week. The Nasdaq fell 0.2%, the S&P 500 dipped 0.4%, and the Dow lost 0.6%.
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Goldman Sachs shares inched up after reporting a surge in asset and wealth management revenue in Q4. Morgan Stanley stock fell as earnings shrank 32% amid one-time charges.
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Apple shares slipped after saying it would remove blood oxygen monitoring from watches if an import ban appeal fails. The Supreme Court also declined to hear Apple's App Store dispute with Epic Games.
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Synopsys is acquiring engineering software developer Ansys for $35 billion in cash and stock. Synopsys shares rose while Ansys stock fell on the news.
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Boeing shares plunged after Wells Fargo downgraded the stock on risks that an FAA investigation into the company’s safety standards could reveal more quality issues.