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U.S. stocks tumble

Wednesday, September 09, 2015 - 01:22

U.S. stocks ended more than one percent lower, led by declines in Apple shares and energy companies. Bobbi Rebell reports.

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Stocks gave up early gains that were sparked by China's move to boost stimulus measures. The Dow had been up as many as 171 points. Stocks could be range bound until the Fed policy makers meet next week, says Robert Johnson of the American College of Financial Services. SOUNDBITE: ROBERT JOHNSON, PRESIDENT & CEO, AMERICAN COLLEGE OF FINANCIAL SERVICES (ENGLISH) SAYING: "The market is waiting for clarity. And, I truly believe, the Fed would be well advised to simply do a 25 basis point rate hike and get it over with, because it's going to happen. It's not a matter of if, but when." Shares of Apple fell. The company unveiled a new Apple TV that will come with apps, along a voice controlled remote control. It also debuted new iPhones and a larger tablet, the iPad Pro. Netflix ended its seven-day losing streak. Shares of the video streaming company soared after it said it'll launch in South Korea, Singapore, Hong Kong and Taiwan next year. Barnes & Noble shares nose-dived. The book retailer's sales fell for the fifth straight quarter. Shares of Dave & Buster's Entertainment rallied one day after the arcade and restaurant operator reported a surge in quarterly same-store sales and profit that beat expectations. In Europe, China's steps to boost its economy lifted mining stocks. European shares rose to a two-week high.

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U.S. stocks tumble

Wednesday, September 09, 2015 - 01:22