NEW YORK CITY (CNBC) – The Dow fell sharply by more than 600 points Thursday following an unexpected sales warning by Apple.
The U.S. stock market closed down with the Dow Jones sinking by 660.02 points.
The S&P shed 62.14 points while the NASDAQ tumbled 202.43 points.
A weaker-than-expected reading on U.S. manufacturing led to the decline along with Apple shares.
The iPhone maker traded down as much as 707.73 points, marking its biggest percentage drop since 2013.
Apple CEO Tim Cook blames a slowing Chinese economy for his company’s drop in revenue.
The ongoing trade war between Washington and Beijing has intensified fears that the global economy may be slowing down.