Stocks tumble with Fed’s next move in focus, Apple losses deepen: Stock market news today

Wall Street stocks tumbled at Thursday’s open, as building signs the US economy is running hot gave investors reason to believe the Federal Reserve will keep interest rates higher for longer. The Dow Jones Industrial Average (^DJI) was broadly unchanged, but the other major stock gauges lost ground after all three closed in the red on Wednesday. The S&P 500 (^GSPC) dropped around 0.7%, while the tech-heavy Nasdaq Composite (^IXIC) plummeted more than 1.5% as Apple (AAPL) sank nearly 4%. Stocks are coming under pressure after data unexpectedly showed US services activity at a six-month high in August, seen as…