Apple, trade woes sink stocks; growth worries drag on dollar

Young journalists club

News ID: 31738
Publish Date: 13:46 - 20 November 2018
TEHRAN, November 20 -World stock markets fell on Monday as worries about softening demand for the iPhone dragged down shares of Apple Inc and persistent trade tensions between China and the United States sapped investor sentiment.

Apple, trade woes sink stocks; growth worries drag on dollarTEHRAN, Young Journalists Club (YJC) -World stock markets fell on Monday as worries about softening demand for the iPhone dragged down shares of Apple Inc and persistent trade tensions between China and the United States sapped investor sentiment.

Concerns about slowing economic growth also pushed down the dollar.

The U.S. benchmark S&P 500 stock index dropped 1.7 percent following a decline in shares of Apple and its suppliers. The Wall Street Journal reported Apple had cut production orders in recent weeks for iPhone models it launched in September.

Renewed tensions between China and the United States also weighed. At an Asia-Pacific Economic Cooperative meeting in Papua New Guinea over the weekend, the issue prevented leaders from agreeing on a communique, the first time such an impasse had occurred in the group’s history.

Source: Reuters

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