>> 2016 is going out with a whimper after breathless expectations of Dow 20,000. With the market closing down and still almost 250 points off the mark. Why the lackluster week? Reuters' reporter Lewis Krauskopf says, it's a craving for some real policy details.>> A lot of this rally has been stemming from the election in hopes that under Donald Trump there's gonna be lower taxes, low regulations, economic stimulus.
And, on those hopes, you've seen stocks rise up. But, as we head into the new year, investors are now sort of looking for a little meat on those bones. They're looking to see what policies might come to fruition, details behind those policies, and how soon they could be implemented.
>> The tech-heavy Nasdaq composite index dropped about a percent with heavyweights Apple, Google's parent, Alphabet, and Facebook all sitting solidly in the red for the day. Apple, the biggest market cap stock among publicly listed companies, which had its first full year on the Dow Jones Index, taking a hit after a Japanese news report that Apple could be cutting iPhone production in the first quarter.
Apple had a rough 2016 with iPhone sales dropping for the first time. And the new iPhone 7 lacking the wow factor of its predecessors.