U.S. stocks slip as Apple has its worst loss in more than 4 years

U.S. stocks slipped Friday as Apple absorbed its worst loss in more than four years. Thanks to gains over the previous three days, the S&P 500 index finished with its biggest weekly increase since March.READ MORE: Apple hits $1 trillion in value. Only 16 countries are worth more
Story continues belowApple, the world’s largest technology company, forecast weak revenue in the current quarter and startled investors by saying it will stop disclosing quarterly iPhone sales. That pulled technology stocks lower. Other high-growth stocks held up well after the U.S. and China said they had made some progress in trade talks, and Asian indexes surged on reports that China’s government plans to cut taxes.The Department of Labor said employers added 250,000 jobs in October, with no sign that hiring was going to slow down. The proportion of Americans with jobs is at its highest level since January 2009, and hourly wages also grew by the most since then. Along with high consumer confidence, those are all good signs for economic growth and consumer spending in the months to come.Bond yields surged following the strong jobs report as investors bet on continued economic growth, which would push the Federal Reserve to raise interest rates more quickly.WATCH: Saudi arms deal may create few new U.S. jobs

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