⁍ Wall Street’s major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results.

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⁍ Apple Inc tumbled about 5.5% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones.

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⁍ The CBOE volatility index held at a 20-week high ahead of the final weekend before Election Day on Tuesday.

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– The S&P 500 and Nasdaq were on track for their worst weeks since March on Friday, as a sell-off in tech and consumer discretionary stocks dragged them down by more than 1% each, Reuters reports. Apple was the biggest drag on the Dow, falling 5.5% after it posted the steepest drop in iPhone sales in two years due to the late launch of new 5G phones. Amazon.com fell 4.7% after it forecast a jump in costs related to COVID-19, while Facebook shed 5.7% as it warned of a tougher 2021. The CBOE volatility index held at a 20-week high ahead of the final weekend before Election Day on Tuesday. “We’re two market days away from Election Day and people want to make sure that they’re not completely caught off guard,” said Pete Santoro, a Boston-based equity portfolio manager at Columbia Threadneedle. “There is a big selloff in those big tech names because they didn’t live up to the hype and people are really worried about next week’s election.”