Apple, other stocks falls as U.S. recession worries mount

Apple, others, and U.S. stock indexes fell on Monday as investors feared that the Federal Reserve’s monetary policy tightening campaign to tamp down rampant U.S. inflation could push the country’s economy into a double-dip recession.:

The main U.S. benchmarks have sold off sharply in December, putting them on course for their worst annual declines since the 2008 financial crisis, after mixed economic data and the Fed’s hawkish stance fueled worries of a recession.
Market heavyweights such as Apple Inc, Microsoft Corp, and Amazon.com Inc fell more than 1% on Monday, weighed down by rising Treasury yields.
Seven of the 11 major S&P sectors were lower, with consumer discretionary, communication services, and technology leading losses.
Declining issues outnumbered advancers for a 2.10-to-1 ratio on the NYSE and 2.35-to-1 ratio on the Nasdaq.
The S&P index recorded five new 52-week highs and 15 new lows, while the Nasdaq recorded 42 new highs and 335 new lows.

MacDailyNews Take: Once again, when certain quarters, including the Fed, delude themselves aboard the U.S.S. Transitory and waste at least a year before doing a mere portion (interest rate hikes) of what is necessary*, a price must be paid for being delusional and late.
Catching up will be difficult. But, hey, good luck on that soft landing.