"APPLE" EFFECTS ON GLOBAL STOCKS
Apple drops iPhone bombshell on already reeling global stock markets. Apple's revenue for the October-December quarter will fall well below the company's earlier projections and those of analysts, whose estimates sway the stock market.
Asian markets mostly down on Thursday as Apple’s warning weighs on tech stocks. Apple blamed a variety of factors for the lowered guidance, including a weakening economy in China and lower-than-expected iPhone revenue.
European chip stocks tumbled on Thursday after Apple cut its first-quarter revenue guidanc.
U.S. stocks fell sharply on Thursday following a dire quarterly warning from Apple and the release of weaker-than-expected manufacturing data. The iPhone maker blamed a slowing Chinese economy for the shortfall, intensifying fears that the global economy may be slowing down.
Apple’s first sales warning in nearly 12 years sent European shares sliding on Thursday, with the tech sector particularly badly bruised as chipmakers that supply the iPhone maker fell sharply. All European markets were struggling on Thursday, with the Stoxx Europe 600 dropping 0.98% to 332.92. France’s CAC 40 fell 1.66% at 4611.47 and Germany’s DAX 3 lost 1.55% at 10,416.66. In the U.K., the FTSE 100 index was down by 062% at 6,692.66.
U.S. stocks tumbled Thursday, as weak economic data and a rare sales warning from Apple sparked fresh worries among investors about a global slowdown. A confluence of factors from the Federal Reserve’s monetary policy to renewed U.S.-China trade tensions have weighed down financial markets in recent weeks. Adding to investo rs’ fears, manufacturing data around the world have pointed to slowing momentum. The Dow Jones Industrial Average dropped 660.02 points, or 2.83%, to 22,686.22. The S&P 500pulled back 62.14 points 2.48% to 2,447.89 as the tech sector fell 5.07 percent. The Nasdaq Composite tumbled 201.43 points 3.04% to 6,463.50.
Oil prices climbed on Thursday in a session of volatile trade, pressured by concerns that slowing global economic growth could dent demand but drawing support from signs that Saudi Arabia is cutting crude output. West Texas Intermediate crude for February delivery added 55 cents, or 1.18%, to settle at $47.09 a barrel on the New York Mercantile Exchange. The global benchmark, March Brent crude added $1.04, or 1.89%, to $55.95 a barrel on ICE Futures Europe
Asian markets are mixed today as Chinese and Hong Kong shares show gains. Shares in Australia, Japan and South Korea all slipped in morning trade, with the Nikkei 225 in Tokyo dropping more than 3 percent. The Shanghai Composite is up 0.72% while the Hang Seng is up 0.89%. The Nikkei 225 is down 3.03%. Kospi reversed the trend and is trading marginally high at 0.08%. The ASX 200 is also down trading at 0.80%.
SGX Nifty in Singapore is trading 17.00 points or 0.16% up at 10,737.00
Our Markets are likely to open flat with a positive bias today tracking muted trend seen in other Asian markets. Further, trends on SGX Nifty indicate a flat/positive opening for the indexes. Nifty futures in Singapore Exchange are trading around 10,749.50 with a gain of 29.00 points or 0.28%
Asian markets finished mixed The Hang Seng gained 2.24% and the Shanghai Composite rose 2.05%. The Nikkei 225 lost 2.26%. The Kospi is up 0.83%. TheASX 200 is down 0.25%.
European markets are trading sharply higher today. Te STOXX 600 is 1.33% up. The DAX is up 1.72% while France's CAC 40 is up 1.36% and London's FTSE 100 is up 1.20%.