US stocks tumble after Apple warning spooks investors
Nikada/iStock(NEW YORK) — Apple’s warning of a slowdown in China coupled with new negative data on manufacturing activity in the U.S. meant another sharply negative day for stocks.
The Dow ended Thursday at 22,686.22, down 660.02 points or 2.83 percent. The S&P 500 ended at 2,447.89, down 62.14 points or 2.48 percent. The Nasdaq ended at 6,463.50, down 202.43 points or 3.04 percent.
Apple’s surprise announcement on Wednesday added to brewing fears of a global slowdown exacerbated by trade tensions between the U.S. and China. Apple’s stock ended the day down 9.96 percent. The company dropped to the fourth most valuable company in the world, behind Alphabet, Amazon and Microsoft.
Stock markets will have new data to respond to on Friday when the latest job report is released at 8:30 a.m. ET.
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