Reuters Insider - Apple, Goldman send Wall Street tumbling

Philip Morris CR as

13/11/2018 24:15

Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_q511h4pk&referenceId=tag:reuters.com,2018:newsml_OV967AW7F_930&pageId=ReutersNews
Source: Reuters Insider

Description: Wall Street's major indexes tumbled on Monday as shares of Apple
and Goldman Sachs Group dragged down the technology and financial sectors.
Fred Katayama reports.
Short Link: https://reut.rs/2DfoPDg

Video Transcript:

Stocks fell nearly across the board on Monday. The three big indexes losing 2%
or more, down for a third straight session. Yanking them down, tech and
financial stocks led by Apple and Goldman Sachs. INTL FCStone Global Market
Strategist Yousef Abbasi.

It's a series of I think giving back some of last week's almost artificial on
the back of the midterm election bounce and a few pain points in the market,
the largest one obviously being Apple with one of their key suppliers taking
down their numbers pre-announcing today.

Apple shares dropped following weak forecasts from two of its suppliers –
Lumentum Holdings and Japan Display. Lumentum shares plunged. Tobacco
companies Altria and Philip Morris fell. The Wall Street Journal reports the
US Health Regulator plans to ban menthol cigarettes. Goldman Sachs shares
cascading to their lowest level nearly two years on a report that Malaysia
would seek a refund of fees linked to the state fund 1Malaysia Development
Berhad. A decline in Tech stocks also pulled the major markets lower in
Europe