Lower sales targets of the iPhone manufacturer Apple and disquieting sentiment data from the US industry yesterday sent the US stock markets down sharply.
The statements of the technology giant had initially strengthened the already existing concerns of investors about the general economic situation, it was said. Then, when the Manufacturing PMI Manufacturing PMM was released, things went down a bit more. Moreover, governing for President Donald Trump with the democratically-governed House of Representatives is becoming increasingly difficult.
Close to daily low
The Dow Jones Industrial index fell 2.83 percent to 22,686.22 points on the second trading day of the new year. With that, he closed close to his low daily low and resumed his weak 2018 closing. Last year, the Dow had lost just over five and a half percent, which is its worst annual balance since the 2008 financial crisis.
Although the growth scenario for the US industry remains intact, the ISM index in December was surprisingly lower than it has been in ten years. This data would have further increased the economic concerns, said a stockbroker.
Apple at its lowest level since 2017
Among the US individual stocks stood out in the Dow, the papers from Apple, which fell as the bottom of ten percent and sagged to its lowest level since mid-2017. The Christmas business of the iPhone group had gone significantly worse than expected.
Therefore, Apple lowered its revenue forecast for the fourth quarter of 2018 to $ 84 billion, while in November from 89 to 93 billion dollars had been mentioned. Above all, the weaker iPhone sales in China, which were also due to the trade war between the two largest economies in the world, had bothered Apple, observers said.
