Apple will slash its sales forecast for its flagship phone in the current quarter to 30 million units, down from what it said was an initial plan of 50 million units, Taiwan's Economic Daily reported, citing unidentified sources.
That, along with some bearish brokerage calls on iPhone X demand, put its shares on track for their worst single-day percentage fall since Aug. 10.
Shares of companies that supply parts to Apple, including Broadcom, Skyworks Solutions, Finisar and Lumentum Holdings, fell between 1.8 per cent and 3.5 per cent.
The S&P technology index fell 0.9 per cent, the only loser among the 11 major S&P 500 sectors.
Most markets around the world, including parts of Europe and Asia, were shut on Tuesday. Trading volumes are also expected to be light in the holiday week.
"It's going to be slow trading for most of the week. A market that's going to stay within a trading range, we could have a plus or a negative day, but nothing exciting," said Peter Cardillo, the chief market economist at First Standard Financial in New York.
At 9:34 a.m. ET (1434 GMT), the Dow Jones Industrial Average was down 8.32 points, or 0.03 per cent, at 24,745.74 and the S&P 500 was down 2.4 points, or 0.09 per cent, at 2,680.94.
The Nasdaq Composite was down 29.11 points, or 0.42 per cent, at 6,930.86.
Sucampo Pharma surged 6 per cent after Mallinckrodt said it would acquire the drugmaker for $1.2 billion, to gain access to its constipation drug Amitiza. Mallinckrodt shares rose 4.3 per cent.
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