Apple Has Biggest Drop Since August
Signage for Apple Inc. is displayed outside a store in Xiamen, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Apple Inc. shares fell on Tuesday, with the iPhone maker suffering its biggest one-day drop in months as trade tensions between the U.S. and China once again flared up.
The latest escalation started after U.S. President Donald Trump signaled he would be willing to wait for another year before striking a trade agreement with China. He told reporters that “I have no deadline,” dashing hopes that a “phase one” agreement would be reached within weeks. Subsequently, Commerce Secretary Wilbur Ross told CNBC that the U.S. would levy tariffs on China if nothing changes in the next two weeks.