S&P 500 slips with Apple, lingering fears on global growth

The Fed flagged an expected slowdown in the economy last week and decided against raising interest rates this year.

The yield curve inversion, if it holds, is seen by some as an indicator that a recession is likely in one to two years. Ten-year notes were last yielding about 2.4 percent.

The S&P 500 financial index ended down 0.4 percent, falling for a fifth straight day, its longest losing streak this year.

"We went from people worried about a 4 percent (yield on the) 10-year and inflation, and now everyone is worried about a recession and rates going lower. So that's affecting the tone," said Eric Kuby, chief investment officer, North Star Investment Management Corp, Chicago.

The Dow ended higher, helped by a 2.3 percent gain in Boeing Co after the planemaker said it would brief pilots and regulators this week on software and training updates for its 737 MAX aircraft, with Ethiopian Airlines and Qatar Airways expressing confidence in the company despite a recent fatal crash.

Apple shares fell 1.2 percent and were the biggest drag on indexes. The iPhone maker unveiled its long-awaited Apple TV+ original content streaming service and Apple TV Channels subscription service, joining a crowded market for streaming options.

The Dow Jones Industrial Average rose 14.51 points, or 0.06 percent, to 25,516.83, the S&P 500 lost 2.35 points, or 0.08 percent, to 2,798.36 and the Nasdaq Composite dropped 5.13 points, or 0.07 percent, to 7,637.54.

Investors largely shrugged off Special Counsel Robert Mueller's report that President Donald Trump's campaign did not collude with Russia.

The report left unresolved the issue of whether Trump obstructed justice by undermining the investigations that have dogged his presidency.

Top US officials travel to Beijing for the latest round of high-level talks, which are scheduled to start on March 28.

In a bright spot, the consumer discretionary sector rose 0.6 percent, supported by gains in Home Depot Inc and Amazon.com Inc.

Advancing issues outnumbered declining ones on the New York Stock Exchange by a 1.03-to-1 ratio; on the Nasdaq, a 1.10-to-1 ratio favored advancers.

The S&P 500 posted nine new 52-week highs and six new lows; the Nasdaq Composite recorded 25 new highs and 101 new lows.

Volume on US exchanges was 6.96 billion shares, compared with the 7.69 billion average for the full session over the last 20 trading days.