World stocks retreat amid investor caution and tepid corporate earnings
New York — World stock markets broadly retreated amid investor caution after a flurry of tepid corporate earnings reports from around the globe, stoking demand for safer assets, such as US treasuries, pushing yields lower. Equities on Wall Street were pulled lower a day after the Dow Industrials index cracked the 23,000-point barrier for the first time. Apple shares fell 2.6% to $155.68 on signs of poor demand for the iPhone 8. Of the 11 major S&P sector groups, technology, off 0.49%, was the biggest drag. Traders were marking 30 years to the day since the 1987 Black Monday stock market crash, although many market participants considered another such crash unlikely. The Dow Jones Industrial Average fell 53.97 points, or 0.23%, to 23,103.63, the S&P 500 lost 5.43 points, or 0.21%, to 2,555.83 and the Nasdaq Composite dropped 36.92 points, or 0.56%, to 6,587.30. European shares were on track for their biggest drop in two months on concerns over political upheaval in Spain and after di...
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