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 /zigman2/quotes/210599714/realtime SPX -0.21% fell 0.3% to 3,370. The Dow Jones industrial Average /zigman2/quotes/210598065/realtime DJIA -0.62% shed 109 points, or 0.4%, to 29,286. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.33% 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. warned that it would miss its second-quarter guidance due to the coronavirus. In other news, Franklin Resources /zigman2/quotes/201997162/composite BEN -2.33% , the holding company for Franklin Templeton, said it was buying asset manager Legg Mason.
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Stocks open lower after Apple says coronavirus outbreak will hurt sales