U.S. stocks dropped Tuesday, following on Friday’s decline. U.S. stock markets were closed Monday for Presidents Day.
Investors can blame the coronavirus outbreak again. IPhone maker Apple (ticker: AAPL) warned investors it wouldn’t meet quarterly financial guidance because factories in China were coming back online—after the Lunar New Year holiday—slower than expected. What’s more, iPhone demand in China is also being impacted by the coronavirus outbreak. Apple stock fell 1.8%.