The Dow Jones Industrial Average sank by more than 600
points Monday, dragged down by a tumble in Apple and Amazon shares,
mounting geopolitical concerns, and a strengthening dollar.
The
S&P also stumbled, falling by 2 percent after shares in Goldman
Sachs sank by more than 7 percent amid reports that Malaysia is seeking a
multimillion-dollar refund from the investment firm for its role in the
country’s 1MDB state fund money-laundering scandal.
The tech-heavy Nasdaq composite index was down 2.8 percent.
Apple
had pulled down tech stocks early Monday after Lumentum, a key supplier
to the Cupertino-based giant, said it was cutting its outlook for the
second quarter of 2019 based on lower forecast production volume for one
of its major clients.
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