Tuesday's market rally was short lived as all the major averages sold off Wednesday. The Dow endured a more than 440-point swing during afternoon trade, falling more than 239 points at the close. The S&P 500 dropped 27 points, while the Nasdaq fell more than 55 points.
While the markets were seeing red, tech giant Apple was seeing green, having made some monster product announcements. From Apple Watch upgrades to the introduction of the iPad Pro with a 12.9-inch screen. The all-new Apple TV made its debut. It promises to bring the app store and Siri remote to your living rooms. Finally, the new iPhone 6S and iPhone 6S Plus will be paired with an iPhone upgrade program, which will allow customers to get a new iPhone every year starting at $32 per month.
Apple closed lower by 1.92% to settle at $110.15 per share.
With the announcement of Apple TV as a new cord cutting option, some cable companies may be fearing the worst. Pat Esser is the president of Cox Communications, the nation's third-largest cable company. I asked him if he is shaking in his shoes following the Apple TV announcement.