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Stock markets shaken by Apple slide | Stock markets shaken by Apple slide |
(about 2 hours later) | |
Leading US shares have fallen on Wall Street, dragged lower by Apple, which slipped 3.8% after the technology giant was forced to pull an update to its iOS 8 operating system. | |
The main Dow Jones index closed down almost 264 points, or 1.5%, at 16,945. | |
Investor confidence was also knocked by weak durable goods orders figures released by the Commerce Department. | Investor confidence was also knocked by weak durable goods orders figures released by the Commerce Department. |
European markets also fell sharply after Wall Street opened. | European markets also fell sharply after Wall Street opened. |
Germany's Dax, having gained ground in morning trading, ended the day down 1.6%, while France's Cac 40 closed down 1.3%. In the UK, the FTSE 100 was 1% lower. | Germany's Dax, having gained ground in morning trading, ended the day down 1.6%, while France's Cac 40 closed down 1.3%. In the UK, the FTSE 100 was 1% lower. |
'Under fire' | 'Under fire' |
Other technology stocks listed on Wall Street were also hit by Apple's slide. Microsoft fell 2.2%and Intel dropped 1.7%. | |
The tech-heavy Nasdaq index closed down by nearly 2% to end the session at 4,466.75, while the broader S&P 500 index fell 1.6% to 1,966. | |
Earlier, the world's biggest technology company apologised after an update to iOS 8.0.1 left some iPhone users unable to make or receive calls. | Earlier, the world's biggest technology company apologised after an update to iOS 8.0.1 left some iPhone users unable to make or receive calls. |
The company is also under fire following claims that its new iPhone 6 Plus had bent while in users' pockets. | The company is also under fire following claims that its new iPhone 6 Plus had bent while in users' pockets. |
Analysts suggested Apple would soon overcome these issues and its shares would soon recover. | Analysts suggested Apple would soon overcome these issues and its shares would soon recover. |
"Apple's decline is due to a confluence of unforced errors such as the botched iOS 8 update but, with the stock holding up well following the recent product announcements, today's declines could be more of a dip that offers a buying opportunity rather than the start of a bigger slump," said Chris Beauchamp, market analyst at IG. | "Apple's decline is due to a confluence of unforced errors such as the botched iOS 8 update but, with the stock holding up well following the recent product announcements, today's declines could be more of a dip that offers a buying opportunity rather than the start of a bigger slump," said Chris Beauchamp, market analyst at IG. |
Meanwhile, the Commerce Department said durable goods orders had fallen more than 18% in August from July, to $245bn. However, the drop was largely expected and followed a sharp increase in July, largely due to a jump in orders at airplane maker Boeing. | Meanwhile, the Commerce Department said durable goods orders had fallen more than 18% in August from July, to $245bn. However, the drop was largely expected and followed a sharp increase in July, largely due to a jump in orders at airplane maker Boeing. |