Monday , May 17 2021

World stock markets are shaken due to Apple's break in sales

The S & P technology sector fell by 3.5% and dropped to S & P 500, Microchip makers, among their major customers, both Apple and China, exerted pressure on the 7% drop in Qorvo Inc and Advanced Micro Devices.

Apple's warning shakes the financial market, Investors have sought security in bonds and less risky assetsSectors that are considered defensive, such as public services, mass consumption and real estate, were the only ones to win the S & P 500.

Dow Jones Industrial Average dropped 6651.01 points, or 2.79 percent, to 22,695.23 points, while the S & P 500 index dropped to 45.57 points or 1.81 percent to 2,464.46 points. The Nasdaq Composite Index dropped to 143,756 points or 2.16 percent to 6,522,182 points.

Apple's warning follows the data this week, which has shown a slowdown in China's and Eurozone's manufacturing activities, pointing out that the current trade dispute between the United States and China affects global production.

On Thursday, the report by the Institute for Management and Supply (ISM, for acronym in English) showed that factory activity in the United States slowed down in December more than expected, with an index of 54.1 per cent to 57.9.

Celgene Corp's shares rose 25 percent after Bristol-Myers Squibb Co. offered to buy a $ 74 billion cash-and-cash pharmaceutical company. Stocks of Bristol-Myers fell by 13 percent.

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