The S&P 500 and Nasdaq fell on Thursday, with the biggest drag from Apple and a sell-off in chip stocks over concerns about China’s iPhone curbs, while a fall in weekly U.S. jobless claims fed worries about interest rates and sticky inflation. Shares in S&P heavyweight Apple Inc fell 2.9%, for its second straight day of losses on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.

Bloomberg reported that China planned to broaden the iPhone ban to state firms and agencies.

Source: Devdiscourse