US stock indices opened the week on a low note with Apple leading the decline in the tech sector after US Vice President Mike Pence launched an attack on China, while the Asia-Pacific Economic Cooperation (APEC) Summit held in Papua New Guinea failed to reach a joint statement for the first time in its history due to internal disagreements.
The developments kept market optimism regarding progress in US-China trade negotiations in check, with Apple, a company that's highly exposed to Asian and Chinese markets, falling 3%, making its total monthly losses so far at 12% amid estimates of lower sales for the iPhone.
Stock Performance
As of 03:30 GMT, Standard and Poor's 500 shed 0.93%, or 25.47 points to 2,710.80, while Dow Jones dropped 0.93%, or 237.56 points to 25,175.66.
Tech-heavy NASDAQ swooned 1.80%, or 130.63 points to 7,117.24.