Why Apple Stock Jumped Today Even as the Market Crashed
Apple's (NASDAQ: AAPL) stock price climbed 3.2% on Tuesday, despite a sharp fall in the major market indices.
Investors were startled by comments from Federal Reserve Chair Jerome Powell, which suggested that the powerful central bank could pull back on stimulus measures sooner than it forecasted. Many analysts had expected the Fed to adopt a more supportive stance toward the economy after health officials detected a worrisome new coronavirus strain that threatens to derail the market's recovery.
Powell's comments, however, indicated that this might not be the case. Investors reacted by selling off many stocks. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, in turn, all fell more than 1.5% on the day.
Source Fool.com
