Stocks End Lower on Worries About Tech Outlook, Virus Spike

Stocks finished lower Friday, closing out their worst week since March, after the biggest technology companies in the U.S. posted earnings that topped Wall Street expectations but issued tepid outlooks for the rest of 2020.

Shares of Apple  (AAPL) – Get Report declined after the company reported weaker-than-expected iPhone sales and a revenue slide of 29% in China. Twitter  (TWTR) – Get Report slumped after user growth missed estimates.

Stocks recorded their worst week since March as investors grappled with record-setting new daily cases of the coronavirus in the U.S. Fourteen states recorded all-time highs in cases this week, the most of the pandemic, Bloomberg reported.

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