Thursday , July 29 2021

Widespread Fall in Wall Street: Apple fell more than 5 percent – Wall Street – Stock Market and Finance

Apple's stock ended 5.04 percent after Lumentum Holdings cut its orientation for the second quarter of 2019.

Lumentum Holdings, which makes technology for the iPhone's facial recognition feature, and the company's chief, Alan Lowe, said one of the company's biggest customers asked "to significantly reduce shipments of their products," writes CNBC.

Lumentum did not mention the customer by name, but Apple is the company's largest customer, according to Bloomberg.

The message creates speculation about the success of Apple's latest iPhone in the face of Christmas sales. Last week, Nikkei reported on the brake on iPhone production.

Dollar stronger in more than a year

Stronger dollars, oil prices and an underlying fear of following the ongoing trade war were to withdraw Wall Street in less, according to the CNBC.

Against the Norwegian crown, the dollar has not been so strong since the summer of 2017, and a dollar now cost 8.51 kroner.

  • Dow Jones closed 2.32 percent
  • Nasdaq Composite fell 2.78 percent
  • The S & P 500 fell 1.97 percent

Increase in the price of lost oil

The energy sector has long been the sector that has done better due to higher oil prices at the beginning of Monday, but when oil prices declined, the energy sector also fell well below zero.

Exxon and Chevron oil giants started both days with an increase, but fell back and ended at 1.29 percent and 1.77 percent respectively.

Big Goldman Sachs also received Christmas and was one of the 30-component Dows that fell more on Monday with a 7.46 percent drop after being blended into a Malaysian corruption scandal, Bloomberg said.

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