Apple warning, China worries hit Asian shares; ‘flash crash’ jolts currencies
U.S. stock futures fell and Asian shares wobbled on Thursday after a rare revenue warning from Apple Inc added to worries about slowing global growth and weaker earnings.
The California-based tech giant blamed fewer iPhone upgrades and slowing sales in China in warning about revenues in its most recent quarter, its first such warning since 2007. Its shares (O:AAPL) tumbled 8 percent in after-hours trade.
- Japanese markets were closed for holidays but Nikkei futures (NKc1) dropped 1.9 percent.
- Nasdaq E-mini futures (NQc1) down 2.2 percent.
- S&P 500 E-mini futures (ESc1) off 1.3 percent.
- Asia-Pacific shares outside Japan (MIAPJ0000PUS) dropped 0.4 percent.
- Shanghai Composite Index moved up 0.35 percent.
- The dollar was last 1.6 percent weaker against the yen at 107.15.
- U.S. currency against a basket of major rivals, was 0.3 percent weaker at 96.503.
- The euro (EUR=) was up 0.2 percent, buying $1.136.
- Spot gold trading up 0.3 percent at $1,288.11 per ounce.
- Brent crude (LCOc1) was down 1 percent at $54.38.
- U.S. crude (CLc1) fell 1.8 percent to $45.71 a barrel after a sharp rise on Wednesday.
- 10-year Treasury notes (US10YT=RR) fell to 2.6328 percent.
- The two-year yield (US2YT=RR), was at 2.4777