Prime News: US stocks plummet as Apple, energy shares slump

US shares inched lower Monday as energy shares plunged with oil prices and Apple dropped back ahead of its quarterly results.

Apple shares closed at $115.28, down 3.2%. The iPhone maker is slated to post its quarterly results following the market close Tuesday.

The S&P energy sector lost 2.5%, leading sector declines for the S&P 500. Crude oil prices slid as global oversupply pushed fuel storage sites near capacity. Exxon ended at $81.22, while Chevron at $88.77.

The Dow Jones Industrial Average ended at 17,623.05, down 0.13%. The Nasdaq Composite settled at 5,034.70, up 0.06%. The S&P 500 closed at 2,071.18, down 0.19%.

Meanwhile, investors were cautious before the Federal Reserve’s two-day policy meeting on Tuesday, as they were looking for clues on the timing of raising interest rates.

The material has been provided by InstaForex Company –