Relevant:
- Dow heads for fifth straight negative week, longest losing streak since 2011
- Trouble for big tech as consumers sour on Amazon, Facebook and co
- Traders are making a boatload betting against once-beloved FAANG stocks
- Stocks hit record high on sagging performance, higher debt!
- So Goes Apple, So Goes The U.S. Market
2019-01-03 — cnn.com
The news sent shudders through global markets. The Nasdaq plunged 3%, closing back in bear market territory. The S&P 500 shed 2.5%, led lower by tech and industrial stocks. The market ended near the lows of the day.
...
Beyond Apple, investors were also rattled by the biggest one-month decline in US factory activity since the Great Recession. The closely-watched ISM manufacturing index tumbled to a two-year low, providing further evidence of slowing growth and pain from the US-China trade war. ISM said manufacturing activity is still growing, but suffered a "sharp decline" last month.
"Awful, and worse to come," Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote to clients on Thursday. "Trade wars are not easy to win."
The "since the Great Recession/2008" comparables are coming at an increasing pace...
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