BEFORE THE BELL: Revised sales forecast from Apple points to slowing Chinese economy, further fuels recession fears
A new report from Apple is causing turmoil in global markets this morning. The iPhone maker has revised its sales forecast, suggesting China’s drooping economy is causing a slowdown in device purchases. The news has fueled fears of a global economic recession for investors that were already at a heightened state of fear starting out 2019. Analysts are expecting North American markets to slide into the red at the start of the second trading day.
Safe-haven gold is pushing ahead to 1,289 an ounce.
The price of crude is attempting to pull out of an early-morning dip as US oil pushes to 46.56 a barrel.
The lowly Loonie is falling to 73.44 cents US.