The S&P 500 Index declined 0.7%, falling for a second straight day on new worries that the Federal Reserve may keep raising interest rates in its effort to bring down inflation. The Dow was also lower, and the Nasdaq tumbled 1%.

Apple (AAPL) shares sank 3.6% on a report China banned government officials from using iPhones at work. Lockheed Martin (LMT) shares dipped almost 5% after the defense contractor reduced its F-15 jet fighter delivery outlook for 2023 and announced a delay in first deliveries of its updated T🅺R-3 plane.

Tesla (TSLA) shares lost almost 2% after reports that CEO Elon Musk borrowed $1 billion from his Space X rocket company in 2022 around the time he was completing his acquisition of Twitter, now called X. The Tesla news impacted shares of one of its key lithium suppliers, Albemarle (ALB), which just raised its offer to buy Australian lithium provider Liontown Resources to $4.3 billion. Shares slipped 5.5%

Enphase Energy (ENPH) shares were down more than 3% after Morgan Stanley cut the price target of the stock and raised concerns about competition in the solar power sector. Viatris (VTRS) shares dropped almost 5% following a report that the drug maker is꧋ in talks to sell its European over the counter assets. 

DexCom (DXCM) shares jumped 6.5% after the maker of continuous glucose monitoring (CGM) devices indicated use of CGMs increased when patients took weight-loss drugs. Zimmer Biomet Holdings (ZBH) shares added 4% as the medical device maker made changes in its executive suite. Comcast (CMCSA) shares picked up 0.8% after the media company and Walt Disney (DIS) agreed to move up making a decision on the future of the Hulu streaming service, which they jointly own. Disney shares were 0.3% lower.