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European Shares Slump as Apple Warning Hammers Tech Sector


Tuesday, 18 February 2020 15:43 WIB

EropaSaham EropaStoxx Europe 600


c_740_198_16777215_00_images_assets_EUROPE_2ff5d94e-2d5e-497b-a692-fa297bb86254_169.jpeg

European shares dropped on Tuesday as a revenue warning from iPhone maker Apple Inc sent shockwaves through the tech sector, highlighting the impact of the coronavirus outbreak on global demand and supply.

The pan-European STOXX 600 index fell 0.8% by 08:03 GMT, having ended at a record high on Monday after China outlined fresh stimulus measures to mitigate the virus' economic impact.

However, Apple's warning that it would miss its March quarter sales outlook due to the outbreak, along with news of a slower-than-expected recovery in the firm's Chinese factories swiftly culled any optimism.

Source : Reuters


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