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| - Global stock markets fell Tuesday after Apple said the new coronavirus was hurting revenues, fuelling investors fears over the damage the epidemic is inflicting on corporate bottom lines. Apple said it would miss its March quarter revenue forecast and global iPhone supplies would fall, sending tremors of dismay across trading floors. "Apple is the first but it certainly won't be the last, or the most severely impacted," said Craig Erlam, Senior Market Analyst at OANDA Europe. Apple shares, listed on the Nasdaq, were down by more than two percent in the late New York morning, depressing the mood of Wall Street traders returning to their desks after a long holiday weekend. "The health crisis is causing major disruption to businesses in the second-largest economy in the world, so traders are ducking out of equities," said David Madden, analyst at CMC Markets UK. Oil prices fell sharply as jitters about the world economy spread, while the dollar mostly gained. Stephen Innes of AxiCorp said most analysts now predicted that the virus could "significantly" affect short term earnings. "Best to buckle in as we could be in for a bumpy ride," he said. Earlier in the day, shares in Apple suppliers in Asia were hit by the tech giant's warning which sent ripples of worry across the region's markets. Tokyo's benchmark Nikkei 225 index saw its fourth straight session in the red -- a day after data showed the Japanese economy shrank in the December quarter, even before the effects of the virus hit the country. Singapore stocks fell as investors digested the government's decision to cut its economic growth forecast for this year as the virus batters the city state's tourism and trade. Singapore unveiled a US$4.6 billion financial package to help the threat of recession. Hong Kong also fell, as banking heavyweight HSBC reported a 33-percent fall in 2019 pre-tax profits alongside an announcement that it was cutting 35,000 jobs. HSBC shares in London fell sharply. The British pound gained after UK data showed the country's unemployment rate steady at 3.8 percent. London - FTSE 100: DOWN 0.7 percent at 7,382.01 points (close) Frankfurt - DAX 30: DOWN 0.8 percent at 13,681.19 (close) Paris - CAC 40: DOWN 0.5 percent at 6,056.82 (close) EURO STOXX 50: DOWN 0.4 percent at 3,836.54 New York - Dow: DOWN 0.9 percent at 29,135.86 Tokyo - Nikkei 225: DOWN 1.4 percent at 23,193.80 (close) Shanghai - Composite: UP 0.1 percent at 2,984.97 (close) Hong Kong - Hang Seng: DOWN 1.5 percent at 27,530.20 (close) Euro/dollar: DOWN at $1.0815 from $1.0836 Pound/dollar: UP at $1.3019 from $1.3008 Euro/pound: DOWN at 83.07 pence from 83.31 pence Dollar/yen: DOWN at 109.83 from 109.88 Brent Crude: DOWN 1.3 percent at $56.91 per barrel West Texas Intermediate: DOWN 1.4 percent at $51.59 burs/jh/pma
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