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Apple loses $313 billion value in two days as selloff continues

September 7, 2023
Source: afr.com afr.com
News Snapshot:
Apple shares tumbled Thursday (early Friday AEST), on track to wipe out $US200 billion ($313 billion) of market value in just two days, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies. Shares of the Cupertino, California-based company fell as much as 5.1 per cent, bringing its two-day slump to 6.8 per cent. Apple is the biggest component in major US equity indexes, adding to a broader selloff sparked in part by a litany of woes in China. The world’s second-biggest economy has been slumping amid a protracted crisis in its...
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