After reducing Apple's revenue forecast, the US stocks fell today. Representatives of the company noted a slowdown in economic growth in China, which heightens fears that the world economy may slow down significantly as a result of a trade war. The weaker-than-expected data on business activity in the US manufacturing sector only heightened these concerns. The ISM Manufacturing index fell to 54.1 points in December from 59.3 points in November, which was a minimum in more than two years.
Thus, the Dow Jones Industrial Average fell by 2.83% to 22,686.22 points. The S&P 500 lost 2.48% as it dropped to 2,447.89 points.
The iPhone manufacturer's stock has collapsed by almost 10% since the beginning of the year, which was the worst result for the company since 2013. As previously reported, Apple Inc. lowered its quarterly revenue forecast from $ 89-93 billion to $ 84 billion for the first time in almost 20 years. As a result, the shares of chip makers Advanced Micro Devices, Nvidia, Skyworks, and Qorvo also fell after Apple's forecasts.
