US equity markets faded in the closing couple of hours of the session, unwinding an earlier rally after Bloomberg reported that Apple Inc (down -2.06%) plans to slow hiring and spending growth in some divisions next year in anticipation of a potential economic downturn - Dow fell -216-points or -0.69%, unwinding an earlier rally of as much as +356-points. Boeing Co slipped -0.01% finished marginally despite the aerospace and defence giant confirming that Delta Air Lines Inc (up +3.49%) would order 100 of its 737-10 jets as the air carrier modernizes its single-aisle fleet. The broader S&P500 lost -0.84%, with the more defensive Health Care (down -2.15%) and Utilities (-1.40%) leading eight of the eleven primary sectors lower. Energy was the leading primary sector overnight with a +1.96% advance. Tesla Inc edged +0.2% higher after Deutsche Bank added the company to its short-term buy list, citing the potential for the electric vehicle maker to exceed Wall Street expectations when it reports quarterly earnings on Wednesday night AEST (20 July). The Nasdaq -0.84%. Google parent Alphabet Inc fell -2.46%, with the internet giant’s 20-for-1 stock split that was first announced on 1 February taking effect after the close of last Friday’s (15 July) session. The small capitalisation Russell 2000 eased -0.34%.