Apple Is Killing The Market!

Since Apple AAPL became the 2nd largest company in the world by market cap, the market has done nothing but plunge. Prior to the move, the major indexes were flat to slightly positive. Since Bloomberg made the announcement around 2 p.m., the indexes have turned negative, and in a major way. At last check, the Dow was down 81 points, the Nasdaq was down 10 points and the S&P 500 was also down 10 points. Apple has a very high weight on the Nasdaq 100, and thus when Apple shares start to tank, so does the rest of the Nasdaq. At last check, shares of Apple were trading at $287.76, up 1 cent. Shares had earlier been over $292 per share.