Late skid leaves US stocks mostly lower; Apple climbs

NEW YORK (AP) — A late slump left U.S. stocks mostly lower on Wednesday as investors appeared to grow more concerned about the possibility of rising interest rates. Apple climbed after a solid quarterly report and a forecast for strong iPhone sales.

Brewer Molson Coors suffered its biggest one-day loss in 13 years after it said the U.S. beer industry got off to a slow start in 2018. Weak results from drugmaker Gilead Sciences and animal health company Zoetis weighed on health care companies. Smaller companies fared better. Apple did a bit better than Wall Street expected in its latest quarter and forecast better sales than investors feared. The tech giant also said it will spend some of its tax savings on a $100 billion stock repurchase.