(CNBC) — U.S. equities fell on Tuesday, as a decline in Apple shares pushed the broader tech sector lower.
The Dow Jones industrial average closed 38 points lower. The S&P 500 declined 0.3 percent, with tech falling 0.5 percent. The tech-heavy Nasdaq composite slipped 0.4 percent. The major indexes also snapped a two-day winning streak.
Apple fell 1.1 percent after Nomura Instinet downgraded the tech giant's stock to neutral from buy. In a note, the analyst said: "The stock's gains for the iPhone X supercycle are in the late innings." Apple is one of the most popular stocks on Wall Street and Main Street and rarely gets negative opinions from the former.
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