Stock Market Today: Stocks open lower; Walmart, Apple in focus

Updated 10:53 a.m. EDT

Tariff worries bedevil shares

Stocks opened lower and, in mid-morning, were showing few signs of recovering from a weak open. 

The weakness was mostly due to trade issues.

At 10: 53 a.m., the Dow Jones industrials were off 124 points to 41,924. The Standard & Poor's 500 Index was down 0.4% to 5,869, and the Nasdaq Composite Index had dropped nearly 1% to 18,971.

Apple  (AAPL)  was down after President Trump groused that Apple was moving its U.S.-bound iPhone production to India, which is subject to lower tariffs. He wants Apple to move its production back to the United States, which would take year and years to accomplish. 

Walmart  (WMT)  said it had a solid first quarter, but it remains worried about the next few quarters. The retail giant is a huge importer of products from China and other countries and is facing much higher tariffs going forward. 

Chief financial officer John David Rainey said Walmart appreciated that China and the United States agreed to suspend punishing tariff rates from well above 125% for 90 days. But the new 30% tariffs are still in place and substantially higher than a year ago. 

Stock Market Today

Stocks are expected to open lower on Thursday because tariff controversies just won't go away. 

Apple  (AAPL)  shares were lower premarket after President Donald Trump complained about the company's decision to move as much of its iPhone production to India.