U.S. stocks opened lower on Tuesday as traders returned from the long holiday weekend to see Apple's statement that it would miss its guidance due to COVID-19, which has kept Chinese workers at home and away from factory floors.

The S&P 500 fell 0.3% to 3,370. The Dow Jones industrial Average shed 109 points, or 0.4%, to 29,286. The Nasdaq Composite was down 0.3% to 9,701. On Friday, the S&P 500 and Nasdaq closed at records.

Investors are increasingly sensitive to signs that the coronavirus outbreak could disrupt global supply chains, as Chinese factories struggle to return to full-capacity after the Lunar New Year holidays. Apple Inc. appl warned that it would miss its second-quarter guidance due to the coronavirus. In other news, Franklin Resources, the holding company for Franklin Templeton, said it was buying asset manager Legg Mason.

Source : Marketwatch