European shares dropped on Tuesday as a revenue warning from iPhone maker Apple ...
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 17, 2020. REUTERS/Staff/File Photo
- 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 0803 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.
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