Apple (AAPL) dominated headlines Monday afternoon as the tech giant kicked off its five-day developer conference in San Francisco. Among its announcements, Apple unveiled a streaming service called Apple Music. News of the streaming music service pressured Pandora (P) shares. The company offers a rival streaming service and will likely suffer reduced market share. The rest of the tech sector was under pressure on Monday with high-momentum tech stocks leading losses in the broad-based market decline. Stocks extended Friday’s losses as investors braced for next week’s Federal Reserve meeting in the wake of a stellar jobs report for May.
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