
Is Apple selloff exaggerated? | MarketTalk: What’s up today? | Swissquote
Apple lost almost $200bn in market valuation in just two days on the news that China would ban iPhone usage in government offices and state-backed companies. We discuss what will be the real impact of the ban for Apple, and whether the market reaction was exaggerated.
Of course, when a tech giant like Apple, with a market cap of nearly $2.8 trillion sneezes, the whole market catches a cold. The S&P500 fell for the third day to 4451 yesterday, while Nasdaq 100 slipped below its 50-DMA.
Zooming out, the US small caps were also under pressure yesterday, the Russell 2000...