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The Breakfast Briefing: U.S. Stock Futures Sink After Apple Cuts Sales Forecast
FYI: The Stoxx Europe 600 was down 0.5% in the opening minutes of trading, with the pan-continental index’s technology sector leading the lower, falling 2.5%.
That followed weak trading in Asia, where tech-dominated benchmarks were among the heaviest fallers. The Shenzhen A-Share slipped 0.8% and Taiwan’s Taiex was down 0.7%. Apple competitor Samsung Electronics Co. dropped 3%, dragging the South Korean Kospi down 0.8%.
U.S. futures put the Nasdaq Composite, which is heavily weighted toward information technology companies, down 2.6%, with the S&P 500 and Dow Jones Industrial Average on course to slide 1.4% at the opening bell.
Apple slashed its quarterly revenue forecast for the first time in more than 15 years Wednesday, in a move prompted by ebbing iPhone sales in China. Regards, Ted
