The Dow Jones Industrial Average tumbled more than 660 points as Apple stock dropped nearly 10 percent – the biggest single day decline for the company since 2013 – just one day after it slashed its revenue forecast.
Shortly after spooking Asian and European investors, CEO Tim Cook’s bombshell announcement rocked Wall Street on Thursday. The drop marked the worst start to a year for both the S&P 500 and the Dow since 2000, while for the Nasdaq it was the weakest start since 2005, according to Market Watch.
The Dow Jones fell nearly 2.8 to 22,686.22 points just days after it completed its worst year in a decade. The S&P 500 index plunged nearly 2.5 percent and the tech-heavy Nasdaq lost more than three percent.