NEW YORK — Stocks went into a steep slide Thursday after Apple sent a shudder through Wall Street with word that iPhone sales in China are falling. In a letter to shareholders Wednesday, Apple CEO Tim Cook said iPhone demand is waning in China and would hurt revenue for the October-December quarter. The Nasdaq, which has a high concentration of tech stocks, retreated 170 points, or 2.6 per cent, to 6,495. Apple stock took its biggest loss in six years Thursday and was down to $142.94 in afternoon trading. Boeing, which sells many of its planes to China, declined 4.1 per cent to $310.58.

Source: National Post January 03, 2019 18:03 UTC