The Nasdaq Composite Index records its third consecutive daily loss
US indices closed with collective losses in Wednesday's session under pressure from rising Treasury bond yields and fears that interest rates will remain high for a long period after the US services sector data.
The Institute for Supply Management revealed that the non-manufacturing PMI rose to 54.5 last month versus expectations of 52.5, while a measure of the prices paid by service sector companies for inputs increased.
Performance of major US indices:
The Dow Jones Index fell by 0.66%, equivalent to 199 points, declining for the second session in a row.
The S&P 500 index also declined by 0.7% amid a decline in all sectors except energy and utilities.
The Nasdaq Composite Index led Wall Street's declines after falling by more than 1%, recording the third daily loss in a row.
Apple shares
Apple shares fell by 3.6% in Wednesday's session, recording its largest daily loss in a month, as the company lost $106 billion in market value in one day.
These losses came after reports of China banning officials at central government agencies from using iPhones and other foreign-branded devices at work.
Lockheed Martin shares:
Lockheed Martin shares fell about 5% in Wednesday's session to their lowest levels in 11 months after the American arms maker reduced delivery expectations for its F-35 aircraft.
