Apple and Meta Lead Stock Market Volatility Amid Product Launches and Settlements

Major US indices closed lower on Wednesday, with the Dow Jones Industrial Average falling 0.77% to 52,380.66, the S&P 500 declining 0.48% to 7,636.36 and the Nasdaq dropping 0.64% to 26,253.34.

Among top stocks gaining attention were Apple Inc. (AAPL) and Meta Platforms Inc. (META).

Apple's stock closed at $315.34, marking a 0.28% decline, after the tech giant introduced its first foldable iPhone, the iPhone Duo, at the 'Surprise and Shine' event.

The device features a 7.6-inch inner display, up to 44 hours of video playback on the outer screen, Touch ID and Apple Pencil support, and starts at $1,999 with 256GB of storage, with preorders beginning Oct. 16 ahead of its Oct. 23 launch.

Meta's shares surged by 6.55%, closing at $653.69, following the company's recent $18 billion settlement with 29 US state attorneys general over design features on Instagram and Facebook deemed harmful to younger users.