S&P 500's record highs held back by Apple's falling stock price

The S&P 500's multiple record highs set this week after more than a year-long wait on Wall Street would not have taken so long had Apple Inc , the index's largest constituent, not fallen deeply from its own all-time high. Since the S&P 500 hit its prior record high on May 21, 2015, the benchmark index has risen 1.55 percent. Apple has been struggling with slowing demand for its iPhones and cooler sales in China than it had hoped for.