Dow tumbles 650 points as Apple news, manufacturing data spark fears of global slowdown
Friday, 4 January 2019 04:11 WIB |
MARKET UPDATE |DOW JONESS & P 500 Standard & Poor's 500Saham ASNasdaq
U.S. stock indexes closed sharply lower Thursday, after a survey of American manufacturers showed the sector growing at its slowest pace in two years, and after a sales forecast cut by Apple Inc intensified fears of a slowing Chinese economy.
The Dow Jones Industrial Average fell 661.58 points, or 2.8%, to 22,684.66, the S&P 500 index , shed 62.18 points, or 2.5%, to 2,447.87, while the Nasdaq Composite tumbled 202.43 points, or 3%, to 6,463.50.
The Institute for Supply Management's manufacturing index fell to 54.1% in December, down from 59.3% the month before and well below economists expectations of 57.0, per a MarketWatch poll.
Apple stock tumbled nearly 10% after the company slashed its quarterly revenue outlook, blaming its lowered projections on soft iPhone sales in Asia, with CEO Tim Cook publicly attributing some of the weakness to U.S.-China trade tensions.