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Wall Street stocks finished lower on Tuesday as Apple kicked off its highly anticipated fall event and investors counted down to Wednesday’s key inflation data.
The tech-heavy Nasdaq Composite (^IXIC) retreated more than 1% amid a tumble in Oracle stock (ORCL) after the software maker posted slowing cloud sales growth. The S&P 500 (^GSPC) dropped about 0.6%, and the Dow Jones Industrial Average (^DJI) pared earlier losses to finish roughly flat.
Tech stocks took center stage on Tuesday, with Apple (AAPL) announcing the launch of the iPhone 15 at its annual event. Apple stock was down 1.7% on the day. That was coupled with building anticipation for the blockbuster Arm IPO. The chip designer will close its order book early, by Tuesday afternoon; the listing is up to 10 times oversubscribed, reports said.
Meanwhile, rising oil…