New York (CNN Business)Apple has stunned investors with a stark warning about its business in China.
US stock futures dropped sharply following Apple’s announcement that it would miss its sales target for the final quarter of 2018 by at least $5 billion. Apple blamed weak sales in China for the revised forecast, reinforcing concerns that the country’s slowing economy is already hurting earnings for multinational companies.
Dow futures pointed to a much lower open Thursday morning, falling 335 points. S&P 500 futures were 1.5% lower and Nasdaq futures plunged 2.6%.
