Apple drops 5% after notching best day since 1998

Apple shares declined 5% Thursday, giving back some of Wednesday's gains that pushed the iPhone maker to its best day since January 1998. The technology giant, down 15% so far this month and nearly 25% since the start of 2025, surged more than 15% Wednesday after President Donald Trump announced a 90-day pause on some tariffs and dropped the tariff on most countries to 10% to allow negotiations. The news spurred a widespread market rally that pushed the Nasdaq Composite to its second-best day ever and biggest one-day gain since January 2001, while the S&P 500 recorded its third-biggest gain since World War II. The tech-heavy index was last down 4% as markets reversed course. Tesla dropped 7%, while Meta Platforms and Nvidia declined about 5% each. Microsoft , Alphabet and Amazon were last down at least 2% each. ... Read full article.