: Apple’s stock selloff would shave more than 40 points off the Dow’s price

The selloff in Apple Inc.’s stock AAPL was a big reason for the early drop in stock market futures. The technology behemoth’s stock fell 3.7% to pace the Dow Jones Industrial Average’s DJIA premarket decliners, amid growing worries about the implications of China’s reported ban on government iPhones. The stock’s implied price decline would shave about 44 points off the Dow’s price, and Dow futures YM00 were down 77 points, or 0.2%. Meanwhile, the SPDR S&P 500 ETF SPY fell 0.7% and the Invesco QQQ Trust QQQ, the exchange-traded fund that tracks the Nasdaq-100 Index NDX, lost 1.3%. Apple’s stock is the biggest holding of both ETFs, as it had a 7.72% weighting in the SPY as of June 30 and a 11.4% allocation in the QQQs as of Sept. 6.

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