Firms with exposure to China hit over fears the Silicon Valley giant’s slowdown could spread
Apple’s shock downgrade has sent shares in European and US-listed companies with exposure to China – from Burberry and the Gucci owner, Kering, to chipmakers and miners – tumbling over fears the slowdown that has hit the Silicon Valley giant is set to spread.
In New York the Dow Industrial Average fell over 2% in morning trading and all the major markets suffered sharp losses as investors reacted to the Apple news, reports of a slowdown in US factory activity and an ongoing government shutdown over the funding of Donald Trump’s proposed border wall with Mexico.
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