U. S. stocks plummeted Thursday in reaction to a warning by Apple that it will miss its quarterly sales forecast.
Jan. 3 (UPI) — U. S. stocks plummeted Thursday in reaction to a warning by Apple that it will miss its quarterly sales forecast.
The Dow Jones Industrial Average fell 660.02 points, or 2.83 percent, to 22,686.22 at the end of trading, while the S&P 500 dropped 2.48 percent and the Nasdaq Composite slid 3.04 percent.
Apple’s stock fell 9.96 percent after CEO Tim Cook said told investors Wednesday the company lowered its revenue guidance to $84 billion from the $89 billion to $93 billion it had previously projected.
