U.S. Futures Fall as Apple's Warning Put Bears Back in Control

The iPhone maker lowers its estimate for first-quarter profits
Technology and miners lead decline in European Equities

Apple lowered its outlook for first quarter earnings. Bloomberg’s Emily Chang reports.Markets: What’d You Miss?" (Source: Bloomberg)

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By Sarah Ponczek, Vildana Hajric, and Reade Pickert

January 2, 2019 at 10:07 PM UTC

Updated on

January 3, 2019 at 10:54 AM UTC

This article is for subscribers only.

Traders braced for another dose of the turbulence that ruled equities all December after reduced guidance at Apple Inc. sent U.S. futures tumbling.

News that the iPhone maker cut its first-quarter revenue forecast had something for everyone who has panicked over U.S. stocks in the last few months. Concern about the pace of growth in China, the impact of the U.S. tariff war and the general state of technology valuations all got an airing in the reaction to Apple’s warning.