The Dow dropped 660 points, or 2.8%, on Thursday after Apple warned it will badly miss its quarterly sales forecast because of weakening growth and trade tensions in China. Apple ( AAPL ), among the world's most widely held stocks, plummeted 10% in its darkest day in six years. Beyond Apple, investors were also rattled by the biggest one-month decline in US factory activity since the Great Recession. "It's not going to be just Apple," Hassett said, adding that sales will recover if trade negotiations with China are successful. "The global market for +$700 phones has clearly topped out," Nicholas Colas, co-founder of DataTrek Research, wrote to clients on Thursday.

Source: CNN January 03, 2019 14:36 UTC