NEW YORK: Wall Street traded flat early Tuesday as Apple shares took a modest loss following an order from the European Union to pay $14.5 billion in back taxes. Apple was down 0.5 percent shortly after 1400 GMT, making for a more than 3 percent loss in the past two weeks as the European Commission’s decision loomed. Retailers meanwhile showed signs of trouble, with fashion chain Abercrombie & Fitch down 21 percent after disappointing second-quarter results. The Dow Jones Industrial Average was down 0.1 percent at 18,484.12 while the S&P 500 was virtually unchanged at 2,180.19. The tech-heavy Nasdaq was up 0.2 percent at 5,240.42. The EC announced Tuesday that Apple owed $14.5 billion in back taxes to Ireland, which its said had shown preferential treatment to the company. The company said it would fight the decision and predicted it would win. “Ireland has said they plan to appeal the Commission’s ruling and Apple will do the same. We are confident that the Commission’s order will be reversed,” said chief executive Tim Cook. Shares in other Silicon Valley players saw little movement. Google parent Alphabet lost 0.3 percent. Microsoft was down less 0.2 percent. HP fell less than 0.1 percent while IBM was essentially flat. Along with Abercrombie & Fitch’s troubles, other retailers were also in negative territory, with Gap down 2.8 percent, Nordstrom down 1.4 percent, Urban Outfitters off 1.3 percent and American Eagle Outfitters down 1.2 percent. Major oil companies were all modestly upward-bound. Chevron was up 0.3 percent, Exxon Mobil added 0.1 percent and Marathon Petroleum 0.2 percent. Apple shares lost some of their shine on Tuesday after the European Union ordered the US tech giant to pay a record $14.5 billion in back taxes in Ireland. Shares in the iPhone and iPad maker fell 0.4 percent after the European Commission concluded that Dublin had shown preferential treatment to the California tech giant. Including this morning’s loss, shares in the company had fallen 3.3 percent in the two weeks ahead of the widely-anticipated decision. Apple has vowed to appeal the ruling, as has Ireland, which has sought to attract foreign firms with its low corporate tax rate and willingness to negotiate specific tax treatment.