Top 5 Things to Know in the Market on Thursday-
1. Apple plunges after slashing revenue forecast
Shares in Apple (NASDAQ:AAPL) plunged nearly 8% in premarket trade on Thursday after the iPhone maker slashed its quarterly revenue forecast as U.S.-Sino trade tensions hit sales in China.
2. Yen undergoes overnight ‘flash crash’ in currency markets
The scare from Apple sent investors scrambling for the safe haven yen which surged against all major rivals in overnight trade.
3. Stocks retreat as Apple’s woes dampen sentiment
Although U.S. stocks managed to kick off 2019 with a small rebound after the worst December since the Great Depression, Apple’s surprise announcement was enough to return bearish sentiment to global stock markets.
4. Democrats to push halt to government shutdown with little hope for Trump acceptance
As the partial U.S. government shutdown headed for a 13th straight day, Democrats taking control of the House of Representatives planned to try and pass a bill on Thursday would provide temporary funding for federal services to reactivate.
5. Oil prices decline as attention shifts to U.S. inventories
Oil prices fell on Thursday as stock market turmoil and global growth worries dampened appetite for risk assets and investors turned their attention to the latest weekly readings on U.S. inventories.
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