Wall Street backed off from record levels on Monday, with the Dow slipping more than 100 points, dragged lower by a slide in Apple shares after a report said iPhone X demand was waning.
Shares of Apple fell as much 2.6 percent after the Nikkei reported the company will cut production of its flagship gadget in half. Analysts expect the tech giant to report quarterly EPS of $3.83 on Thursday. Apples shares were last down 1.8 percent at $168.36.
The Dow Jones Industrial Average fell 104.15 points, or 0.39 percent, to 26,512.56, the S&P 500 lost 11.22 points, or 0.39 percent, to 2,861.65 and the Nasdaq Composite dropped 23.85 points, or 0.32 percent, to 7,481.92.
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