The markets extended its losses during the midday with the Dow falling 21 points to 20,815. Nasdaq dropped 34 points to 5,827.
YouTube will hold a press event this afternoon to announce new network TV offerings. Rumors have been swirling for months that YouTube was developing a subscription service of television programming in order to compete directly with Hulu and DirecTV. CBS reportedly signed a deal last with YouTube to provide content for a subscription TV service.
Expectations are high for the 10th anniversary edition of the iPhone. In one report, the next iPhone will offer a curved OLED display that could cost as much as $1,000. Investors are also speculating that the iPhone 8 will incorporate wireless charging technology.
Consumer Reports unveiled its list of the best car brands in the world. Cars were rated on reliability, owner satisfaction, safety and performance on a road test. Audi was named the best car brand for the second year in a row with its Audi Q7 taking the top spot for the luxury SUV category.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 index fell 6 points to 2,363. Bitcoin added $3 to $1,189.
