Apple stares down $75bn in losses on US-China trade tension
10 May 2019 - 18:06
New York — Apple is headed for its biggest weekly decline this year as the iPhone maker’s profits are seen as particularly vulnerable to a flare-up in the trade war given its reliance on China for production and sales. The shares were down as much as 9% for the week as of 10.45am in New York on Friday, while the S&P 500 slid as much as 4% this week. A close at that level would be the worst performance since the five days ended December 21, when US equities were tumbling towards the brink of a bear market.
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