Foxconn, the biggest assembler of iPhones, is planning big cost cuts, making it the latest Apple supplier to be affected by weak demand for the smartphone. Apple stock dropped into bear market territory this week.
Meanwhile, stocks in Asia got some reprieve from the recent sell-off after a modest rebound in technology and energy shares on Wall Street.
Elsewhere:
– Crude oil rebounded from a one-year low
– Bitcoin steadied after a sell-off
– U.S. markets are closed on Thursday for Thanksgiving
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