FXstreet

The S&P 500 dropped 0.67% on Monday, in the largest decline since last September. Part of the decline was the 2.1% drop in the stock of Apple, Inc. (AAPL), which was a drag on all of the major averages, as well as the technology sector. The largest holding in the Technology Select Sector (XLK) is Apple, with a portfolio weight of 13.74%.



The stock market declined even more sharply on Tuesday with the Dow Industrials and S&P 500 dropping more than 1%. Apple was down another 0.52% to close at $167.05.

Investors are now even more focused on the earnings for Apple, which are scheduled to be released after the close on February 1st. Many other tech giants, including Microsoft Inc. (MSFT) and Facebook (FB), are also reporting this week, but Apple has garnered most of the interest.

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