Apple Inc.’s tax agreements with Ireland were criticized as unfair by European Union regulators who said the deals were improperly designed to give the iPhone maker a financial boost in exchange for jobs in the country.
Apple plunged 2.9 percent to send technology stocks in the Standard & Poor’s 500 Index to the biggest plunge since April. Biogen Idec Inc. and TripAdvisor Inc. lost at least 3.3 percent as investors sold some of the bull market’s biggest winners.
Apple Inc. unveiled redesigned iPhones with bigger screens, overhauling its top-selling product in an event that gives the clearest sign yet of the company’s product direction under Chief Executive Officer Tim Cook.
Apple Inc.’s suppliers have started manufacturing new iPads, according to people with knowledge of the matter, as the company works to reinvigorate sales of the tablet computers after two straight quarters of declines.