Apple shares lose $106b in value as Wall Street dives

https://www.smh.com.au/business/markets/apple-s-warning-sends-global-markets-tumbling-20190104-p50pj7.html?utm_medium=Social&utm_source=Facebook&fbclid=IwAR22FNhng0TU8y7o8B_1ggg6YrW60azNhNVTeE-a0_9jTwZxs5qkL1VXrZ4#Echobox=1546550239

Stocks went into a steep slide on Thursday after Apple sent a shudder through Wall Street with word that iPhone sales in China are falling.

The rare warning of disappointing results from Apple reinforced investors' fears that the world's second-biggest economy is losing steam and that trade tensions between Washington and Beijing are making things worse.

The Dow Jones Industrial Average plunged 660 points, and the broader S&P 500 index fell 2.5 per cent.

Apple stock plummeted 10 per cent, erasing more than $US74 billion ($106 billion) in market value. Technology companies and other major exporters, including heavy-machinery companies, also took big losses.

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https://www.smh.com.au/business/markets/apple-s-warning-sends-global-markets-tumbling-20190104-p50pj7.html?utm_medium=Social&utm_source=Facebook&fbclid=IwAR22FNhng0TU8y7o8B_1ggg6YrW60azNhNVTeE-a0_9jTwZxs5qkL1VXrZ4#Echobox=1546550239