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>> A Wall Street plunge led by Apple spilled over to global markets on Tuesday, fears that we've hit peak iPhone after two suppliers cut their forecast. It went on to rattle shares along its supply chain on the other side of the Pacific. Shares in Taiwanese phone assembler Foxconn dropped by more than 3%.
Japan Display, which make screens for new iPhone models, tumbled by 9% after it slashed its yearly outlook. Reuters' Swati Pandey has been following the fallout from Sydney.>> Shares of its Asian suppliers in Japan, in South Korea and Taiwan had a very bad day. As well they were all sold off very heavily, and it's not just Apple.
There's generally concern about technology shares. Apple, for example, is unable to grow its market share. Two of its biggest market, China and India, are seeing a slowdown in demand for Apple major product iPhone. Google is going through some regulatory issues. And generally there is earnings performance advent for these companies.
So going forward, it does not look as rosy has it has been in the past>> Asian markerts as a whole open down, but bounce back on the news of a possible breakthrough when the trade war between the world's two bigest economies.>> Asian markets had opened deep in the red this morning, but as the markets have come to a close now, some of those loses are being paid.
There was a report in the South China Morning Post that China's top trade war negotiator is heading to Washington to prepare for talks between US President Donald Trump and his Chinese counterpart Xi Jingping. Markets are perceiving that as a really positive news.>> The same hopes helping European shares to start a day in the green.