Jan 3, 2019 - Economy & Business

Apple leads stock market rout

Dan Primack, author of Pro Rata

Photo: Andrew Burton/Getty Images

Stocks got slammed on Thursday, with the Dow Jones Industrial Average finishing down 2.83%, or 662 points. The S&P 500 fell 2.48%, while the Nasdaq Composite lost 3.04%.

The bottom line: This was a severe hangover from the Apple's revenue warning tied to China's slowing economy, as well as Trump economic adviser Kevin Hassett saying that other U.S. companies will have China-related earnings trouble until the trade war is resolved. Apple's stock shed 9.96%, representing nearly $75 billion in lost value, while Apple suppliers and other companies with high China exposure (like Caterpillar, down 3.92%) also got hit hard.

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Axios
Updated 10 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Business: New state unemployment filings fall.
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: FDA approves Gilead's remdesivir as a coronavirus treatment — How the pandemic might end — Many U.S. deaths were avoidable.
  5. Education: Boston and Chicago send students back home for online learning.
  6. World: Spain and France exceed 1 million cases.
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Ina Fried, author of Login
12 mins ago - Technology

Intel shares drop sharply despite mostly solid earnings report

Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Shares of Intel fell as much 10% in after-hours trading Thursday — after the company posted quarterly revenue and earnings generally in line with expectations.

Why it matters: The chip giant is a bellwether for the PC industry, and small signs of weakness may be playing an outsize role in spooking investors.

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Orion Rummler
14 mins ago - Technology

FBI: Russian hacking group stole data after targeting local governments

FBI Headquarters. Photo: Mark Wilson/Getty Images

Energetic Bear, a Russian state-sponsored hacking group, has stolen data from two servers after targeting state and federal government networks in the U.S. since at least September, the FBI and Cybersecurity and Infrastructure Security Agency said on Thursday.

Driving the news: Director of National Intelligence John Ratcliffe announced Wednesday that Iran and Russia had obtained voter registration information that could be used to undermine confidence in the U.S. election system.

Go deeper (1 min. read)Arrow