Apple Inc. opened lower on Tuesday after spiking up 3.86 percent on Monday in a relief bounce that led the S&P 500 to 1.39 percent higher.
Stocks in the broader technology sector are being dragged down on Tuesday by Snap Inc. after a Form 8-K filing was released on Monday showing Snap forecasts its second-quarter revenues to come in under the lowest range of its guidance issued on April 21.
At press time, Meta Platforms, Inc. and Alphabet, Inc. were trading down over 9 percent and 7 percent, respectively, in sympathy with Snap. Investors have grown concerned Snap’s outlook for the second quarter is indicative of the tech sector in general as soaring inflation and rising interest rates appear to be slowing the economy….