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NEW YORK (Reuters) - Wall Street’s major indexes tumbled on Monday as shares of Apple Inc (AAPL.O) and Goldman Sachs Group Inc (GS.N) dragged down the technology and financial sectors.

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Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 12, 2018. REUTERS/Brendan McDermid

With Monday’s losses, all three indexes erased the gains from their brief rally after the U.S. congressional elections on Nov. 6.

Apple shares fell 5.0 percent after several suppliers to the company, including Lumentum Holdings Inc (LITE.O), whose components power the iPhone’s Face ID technology, cut their forecasts. Apple’s decline impeded the tech-heavy Nasdaq, which fell more than 2 percent.

Lumentum shares plunged 33.0 percent. Shares of several chipmakers that sell to Apple, such as Cirrus Logic Inc (CRUS.O), Qorvo Inc (QRVO.O) and Skyworks Solutions Inc (SWKS.O), dropped as well. The Philadelphia SE Semiconductor index .SOX dropped 4.4 percent.

“The concerns are all about global economic growth, specifically demands for the products of companies like Apple,” said Kate Warne, investment strategist at Edward Jones in St. Louis. “Investors are becoming more concerned about faster-growing companies and whether they will continue to grow at that pace.”

Goldman Sachs shares dropped 7.5 percent after Bloomberg reported that Malaysian Finance Minister Lim Guan Eng said the country was seeking a full refund of all the fees it paid to the Wall Street bank for arranging billions of dollars of deals for troubled state fund 1MDB. Goldman Sachs was the biggest drag on the Dow, which fell more than 2 percent.

Among the S&P 500’s 11 major sectors, technology and financial stocks weighed most heavily. The S&P 500 technology sector index .SPLRCT fell 3.5

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