Business

Sharp fall in Apple shares hits US markets

NYSE traders Image copyright Getty Images

(Close): A sharp fall in shares in Apple dented confidence among US investors on Thursday.

Apple fell more than 3% after investor Carl Icahn said that he had sold his remaining stake in the technology firm. Mr Icahn also said he was "extremely cautious" about US shares.

The Dow Jones closed 1.1% lower at 17,830, the broader S&P 500 fell 0.9% and the Nasdaq finished 1.2% lower.

"Icahn was really the turning point," said fund manager Mace Blicksilver.

Shares in medical device maker St Jude Medical jumped 25% after it agreed to be bought for $25bn by Abbott Laboratories. Shares in Abbott fell 7.7%.