A drop in Apple’s shares pulled US stock indices lower on Thursday, as news that China would broaden a ban on the use of iPhones helped push the tech giant’s market capitalisation wipeout over the past two sessions to nearly $200bn.
Wall Street’s benchmark S&P 500 fell 0.3 per cent and the technology-focused Nasdaq Composite declined 0.9 per cent, extending losses from the previous trading session.
Apple shares closed 2.9 per cent lower on Thursday, pushing their decline since Tuesday’s closing bell to 6.4 per cent in one of their steepest two-day sell-offs this year.
Read the full story on the Financial Times here.