• Latest
  • Trending
Apple falls on weak iPhone production reports, US-China tensions sink Wall Street

Apple falls on weak iPhone production reports, US-China tensions sink Wall Street

November 21, 2018
4 dead, 52 arrested after Donald Trump supporters storm US Capitol

4 dead, 52 arrested after Donald Trump supporters storm US Capitol

January 7, 2021

China criticizes US order against dealing with Chinese apps

January 6, 2021

US has dual policy on Afghan peace process: MPs

January 5, 2021
‘Good riddance,’ says China snub Germany leaving UN Security Council

‘Good riddance,’ says China snub Germany leaving UN Security Council

December 25, 2020
Sharon Osbourne reveals she tested positive for COVID-19

Sharon Osbourne reveals she tested positive for COVID-19

December 15, 2020
Apple Adding Privacy Fact Labels to App Store Items

Apple Adding Privacy Fact Labels to App Store Items

December 15, 2020
More Republicans finally accept Biden win after U.S. Electoral College certifies vote

More Republicans finally accept Biden win after U.S. Electoral College certifies vote

December 15, 2020
Rhode Island casts 4 Electoral College votes for Biden

Rhode Island casts 4 Electoral College votes for Biden

December 15, 2020
Rhode Island School To Stagger Return After Holiday Break

Rhode Island School To Stagger Return After Holiday Break

December 15, 2020
Twitter, Facebook face labeling test on Trump’s election posts

Twitter, Facebook face labeling test on Trump’s election posts

November 4, 2020
Democratic hopes to flip US Senate dim as red wall holds for now

Democratic hopes to flip US Senate dim as red wall holds for now

November 4, 2020
US election: What happens next?

US election: What happens next?

November 4, 2020
Sunday, February 28, 2021
No Result
View All Result
  • Region
    • Delaware
    • Maine
    • Massachusetts
    • New Hampshire
    • New Jersey
    • New York
    • Pennsylvania
    • Rhode Island
    • Vermont
  • U.S. News
  • National Security
    • Defense
    • Politics
    • Terrorism
  • World News
    • Africa
    • Asia
      • Australia & New Zealand
      • China
      • India
      • Japan
      • North & South Korea
    • Canada
    • Europe
      • Germany
      • Russian Federation
    • Latin America
      • Mexico
    • Middle East
    • United Kingdom
  • Economy
    • Business
    • Science
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • MLB
      • Boston Red Sox
      • New York Mets
    • NBA
      • Boston Celtics
      • Brooklyn Nets
    • NFL
      • New England Patriots
      • Philadelphia Eagles
      • New York Giants
      • New York Jets
    • NHL
      • Boston Bruins
      • Buffalo Sabres
      • New Jersey Devils
      • New York Islanders
      • New York Rangers
      • Philadelphia Flyers
      • Pittsburgh Penguins
    • Soccer
    • Tennis
    • Water Sports
  • Culture
    • Art
    • Books & Literature
    • Fashion
    • Health
    • History
    • Lifestyle & Family
    • Music
    • Religion
    • Television & Movies
    • Theatre
    • Travel
      • Great Outdoors
      • Rhode Island Travel
    • Women
  • Environment
    • Climate Change
    • Green News
    • Greenpeace
    • Oceans & Marinelife
    • Wildlife
  • Region
    • Delaware
    • Maine
    • Massachusetts
    • New Hampshire
    • New Jersey
    • New York
    • Pennsylvania
    • Rhode Island
    • Vermont
  • U.S. News
  • National Security
    • Defense
    • Politics
    • Terrorism
  • World News
    • Africa
    • Asia
      • Australia & New Zealand
      • China
      • India
      • Japan
      • North & South Korea
    • Canada
    • Europe
      • Germany
      • Russian Federation
    • Latin America
      • Mexico
    • Middle East
    • United Kingdom
  • Economy
    • Business
    • Science
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • MLB
      • Boston Red Sox
      • New York Mets
    • NBA
      • Boston Celtics
      • Brooklyn Nets
    • NFL
      • New England Patriots
      • Philadelphia Eagles
      • New York Giants
      • New York Jets
    • NHL
      • Boston Bruins
      • Buffalo Sabres
      • New Jersey Devils
      • New York Islanders
      • New York Rangers
      • Philadelphia Flyers
      • Pittsburgh Penguins
    • Soccer
    • Tennis
    • Water Sports
  • Culture
    • Art
    • Books & Literature
    • Fashion
    • Health
    • History
    • Lifestyle & Family
    • Music
    • Religion
    • Television & Movies
    • Theatre
    • Travel
      • Great Outdoors
      • Rhode Island Travel
    • Women
  • Environment
    • Climate Change
    • Green News
    • Greenpeace
    • Oceans & Marinelife
    • Wildlife
No Result
View All Result
No Result
View All Result

Apple falls on weak iPhone production reports, US-China tensions sink Wall Street

November 21, 2018
in Business, Featured, Politics, U.S. News
0
Home Economy Business
Post Views: 83

 

The Australian dollar has fallen moderately to 72.9 US cents, 56.7 British pence and 63.6 euro cents.

Meanwhile, bitcoin fell below $US5,000 for the first time in over a year, slumping to a fresh 13-month low — as a broad sell-off in cryptocurrencies that reignited last week gathered momentum.

The failed APEC meeting at Papua New Guinea over the weekend was the trigger for the volatile trading on Wall Street.

RelatedPosts

Apple Adding Privacy Fact Labels to App Store Items

Trump dangles cash for US firms moving from China

United Airlines in early talks with Apple to revamp San Francisco airport terminal

Dow jumps 100 points, heads for record close as Wall Street caps off big week

Stock market comeback is now in the hands of China-US trade talks

Apple’s stock, once again, tumbled over reports that its iPhone production is slowing down.

Also affecting sentiment was uncertainty over Brexit and British Prime Minister Theresa May’s political future, as members of her party attempt to bring on a no-confidence motion.

iPhone and Zuckerberg pressures

Apple’s stock tumbled 3.6 per cent and was, once again, the biggest drag on the broader market.

The technology giant has cut production orders in recent weeks for its three newest iPhone models (XR, XS and XS Max), according to the Wall Street Journal (WSJ).

The iPhone maker’s stock, which has played a major role in powering a decade-long bull run, is down more than 20 per cent from its record high in October.

It follows a disappointing holiday-quarter sales forecast and weak outlook from several of its suppliers.

Shares of Apple suppliers were also hit, including Lumentum Holdings, Universal Display Corp, Cirrus Logic and Skyworks Solutions.

The rest of the FANG stocks — Facebook (-5pc), Amazon (-3.8pc), Netflix (-4.5pc) and Alphabet (Google’s parent company) (-3.6pc) — also sustained heavy falls.

“Without the FANG leadership, including Apple, the market is going to struggle,” said Peter Cecchini, chief market strategist at Cantor Fitzgerald.

Facebook chief executive Mark Zuckerberg has reportedly adopted a more aggressive managerial style.

Mr Zuckerberg told 50 of his top executives earlier this year that Facebook was at war and is under pressure from lawmakers, investors and users, according to another WSJ report.

This report comes after backlash from a New York Times article detailing how Facebook ignored and then tried to hide that Russia used the platform to disrupt the US election in 2016.

US-China trade tensions rise

Tensions ramped up between the world’s largest economies at the APEC summit, with US Vice-President Mike Pence bluntly warning that America will not back down from further tariffs on China if needs be.

Asia-Pacific leaders meeting in Port Moresby failed to agree on a communique for the first time in the conference’s history, with US-China trade worries at the forefront.

Trade-sensitive stocks Boeing and Caterpillar fell 4.5 and 3.1 per cent, respectively.

The Dow Jones index dropped 396 points, or 1.6 per cent, to 25,017 at 8:15am (AEDT).

The benchmark S&P 500 also fell sharply, down 1.7 per cent to 2,691.

The tech-heavy Nasdaq was hardest hit, losing 3 per cent to 7,028.

Source :
abc
Tags: APEC meetingAppleAustralian dollariPhone production reportsUS-China tensionsWall Street
ShareTweetShare

Related Posts

4 dead, 52 arrested after Donald Trump supporters storm US Capitol
Featured

4 dead, 52 arrested after Donald Trump supporters storm US Capitol

January 7, 2021
Business

China criticizes US order against dealing with Chinese apps

January 6, 2021
Featured

US has dual policy on Afghan peace process: MPs

January 5, 2021
‘Good riddance,’ says China snub Germany leaving UN Security Council
Asia

‘Good riddance,’ says China snub Germany leaving UN Security Council

December 25, 2020
Sharon Osbourne reveals she tested positive for COVID-19
Culture

Sharon Osbourne reveals she tested positive for COVID-19

December 15, 2020
Next Post
US senator apologizes to anyone offended by ‘hanging’ remark

US senator apologizes to anyone offended by 'hanging' remark

Translate

Popular Post

4 dead, 52 arrested after Donald Trump supporters storm US Capitol
Featured

4 dead, 52 arrested after Donald Trump supporters storm US Capitol

January 7, 2021
0

The chaotic and violent scene unfolded at the US Capitol as supporters of President Donald Trump swarmed the building to...

Read more
Mattis to Reassure Nervous Asian Allies

Mattis to Reassure Nervous Asian Allies

October 13, 2017
Asian Company Invest In America As Trump Takes Office

Asian Company Invest In America As Trump Takes Office

October 13, 2017
Trump lost: 9th Circuit Court declines restoring travel ban

Trump lost: 9th Circuit Court declines restoring travel ban

October 13, 2017
Central Intelligence: Gina Haspel new Deputy chief

Central Intelligence: Gina Haspel new Deputy chief

October 13, 2017
  • About Us
  • Creative Commons
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
  • Contact Us

Topics

Follow Us

About Us

Varnum Continental is part of Varnum Continental Media Group LLC, which daily news around the globe.

© 2011 Varnum Continental

No Result
View All Result
  • Region
    • Delaware
    • Maine
    • Massachusetts
    • New Hampshire
    • New Jersey
    • New York
    • Pennsylvania
    • Rhode Island
    • Vermont
  • U.S. News
  • National Security
    • Defense
    • Politics
    • Terrorism
  • World News
    • Africa
    • Asia
      • Australia & New Zealand
      • China
      • India
      • Japan
      • North & South Korea
    • Canada
    • Europe
      • Germany
      • Russian Federation
    • Latin America
      • Mexico
    • Middle East
    • United Kingdom
  • Economy
    • Business
    • Science
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • MLB
      • Boston Red Sox
      • New York Mets
    • NBA
      • Boston Celtics
      • Brooklyn Nets
    • NFL
      • New England Patriots
      • Philadelphia Eagles
      • New York Giants
      • New York Jets
    • NHL
      • Boston Bruins
      • Buffalo Sabres
      • New Jersey Devils
      • New York Islanders
      • New York Rangers
      • Philadelphia Flyers
      • Pittsburgh Penguins
    • Soccer
    • Tennis
    • Water Sports
  • Culture
    • Art
    • Books & Literature
    • Fashion
    • Health
    • History
    • Lifestyle & Family
    • Music
    • Religion
    • Television & Movies
    • Theatre
    • Travel
      • Great Outdoors
      • Rhode Island Travel
    • Women
  • Environment
    • Climate Change
    • Green News
    • Greenpeace
    • Oceans & Marinelife
    • Wildlife

© 2011 Varnum Continental