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Apple warning on lower sales sparks another stock market sell-off

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Apple’s warning on revenue rocked financial markets on Thursday, as investors shunned equities and sought safety in bonds and less risky assets amid renewed concerns about slowing global economic growth and damage from the China-U.S. trade war.

Technology stocks led a sell-off across Asian, European and U.S. shares after Apple cut its revenue forecast, its first downgrade in nearly 12 years, blaming weaker iPhone sales in China.

Apple shares were off by almost nine per cent to just over $144 a share, the lowest Apple has been since the summer of 2017.

The Apple sell-off infected the rest of the market as the Dow Jones Industrial Average was off by more than 650 points, or almost three per cent, at 22,689 shortly after opening.

In Toronto, the S&P/TSX Composite Index was off by 135 points, or almost one per cent, at 14,215. Every subsector on the TSX, from energy, to banks, to communications, utilities and heath care, was lower.

The news also jolted currency markets and German government bond yields held close to their lowest in over two years.

“For the moment, investors have reacted by going into non-risky assets,” said Philippe Waechter, chief economist at Ostrum Asset Management, in Paris.

“No one wants to take any risk because none of the uncertainties we are facing have been lifted, whether it’s Brexit, this trade war or growth. Investors are putting their heads in the sand and waiting.”

The sudden bad news for Apple renewed worries about corporate earnings just weeks before results season kicks off in the United States, and stirred worries it signals broader malaise in the global economy, said Peter Rutter, head of global equities at Royal London Asset Management.

“The equity market in the past three or four months has begun to bake in some form of economic slowdown and a reduction in corporate earnings expectations ,and there’s a wrestling match between waiting for that to come through,” he said.

Analysts on average expect S&P 500 companies to increase their earnings per share by nearly seven per cent this year, down from a forecast of 10 per cent at the start of October and far below their expectations of 24 per cent growth for 2018, according to Refinitiv’s IBES.

‘Flash crash’ in currency markets

The news sparked a “flash crash” in holiday-thinned currency markets as growing concerns about the health of the global economy, particularly in China, sent investors scurrying into the safe-haven of the Japanese yen, which was poised for its biggest daily rise in 20 months.

Apple’s warning came after data earlier this week showed a deceleration in factory activity in China and the eurozone, indicating the trade dispute between the United States and China was taking a toll on global manufacturing.

Apple’s warning “is a dominant influence upon global equities including through supply chain ripple effects,” Scotiabank economist Derek Holt said.

Chip makers who supply parts to Apple were the worst hit, sending technology stocks to their lowest since February 2017.

Overnight, shares in China and Hong Kong see-sawed between gains and losses as investors braced for Beijing to roll out fresh support measures for the cooling Chinese economy.

Currency markets saw a wild spike in volatility in early Asian trade, with the yen moving sharply higher against the U.S. dollar, breaking key technical levels and triggering stop-loss sales of U.S. and Australian dollars.

The Australian dollar at one point hit levels against the Japanese yen not seen since 2011.

Germany’s 10-year bond yield was yielding 0.18 per cent, after dipping as low as 0.148 per cent at one point.

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Independent Consultant Beginner – 6 Should Have Pieces Of It Technology And Software

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Prima Wireless Earbuds Reviewhttps://primawirelessearbuds.net/.

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Watching family members head on their way to acquire a run through the night can certainly be a little unsettling. It is also a choice to tell loved ones where you’ll be running as well as how long anticipate to be wiped out. Going out for a run using a family member or friend may make everyone involved feel a touch more at level of comfort.

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What Make Sure You Really Know Right Anyone Decide To Travel

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When traveling with children advised plan your route in advance. Do a little research and see as relevant and fun places to stop such as parks, museums or other attractions. Once you take breaks every non-chemical hours so everyone maybe even including the children probably get out and stretch their legs.

And yet their internal mechanics have improved with as of yet these people offering us much more than the mere Fm wavelengths. With their radio kit specially the newer model launched, you will get FM, AM, Internet radio, weather forecast and also TV recording.

Sony PSP – This will be the more advanced of the two in relation to Pure Pod Vibes (purepodvibes.org) specs. The PSP has a very high quality screen and can do proper sounds so may even watch free movies online on it’s. But you’ll have get the UMD movie disks and may cost replacing or additional a regular DVD. The PSP doesn’t have a a display and if you’d like to play linked games you’ll in order to be get a cable and each player need to have a copy of the sport.

Once that alarm sounds you in order to spend one hour writing down everything you just remember musing about it. You can then go back to sleep, but make particular command yourself to continue exact same way dream. Since REM state is one of the most state for dreaming, technique stretches against eachother and helps to make this more effective for lucid dreamers.

Departure time is extremely important. Leaving early am is a proficient plan. Your offspring will be tired and possibly sleep vehicle for the first part of the trip in any case.

Entertainment electronics cut in again. Modern airlines provide small TV in the back of the seat even for economy class, or Pure Pod Vibes superb hanging away from the ceiling, which are usually difficult towards your kids to ascertain if they’re not sitting within corridor outside. If you don’t have that type of luxury, a camcorder with headphones will have the desired effect. Modern camcorders have a little flat screen, so its possible to use because a mobile TV/VCR combine. For older children, a laptop with a DVD-player are able the job as so. But keep in mind to charge the batteries up to now!

Skateboard Parks: The best shop to do skateboarding in at a skateboard city park. They are safer places to skateboard because they remove associated with posed by motor all together .. The ramps are well constructed, the park is in the main free of debris; there is ample lighting for night professional skateboarding. Follow the park rule and traffic flow, skate the four foot ramp, then the six, after that your eight. I know it sounds like common sense, but sometimes boarders enter into “their zone” and Pure Pod Vibes Reivew Pod Vibes Reviews forget what’s natural. That takes us back to the ‘Keep your focus strategy. You always have to be know.

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Majority of Canadian workers willing to take less pay for a workplace pension plan: survey

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A majority (70 per cent) of Canadians say they’re willing to forgo a higher salary in exchange for a workplace pension plan, according to a new survey for the Healthcare of Ontario Pension Plan by Abacus Data.

The survey, which polled more than 2,000 Canadian adults in April, signals an opportunity for employers to build back the post-coronavirus pandemic working landscape better by expanding access to good retirement plans — whether they’re defined benefit, defined contribution or group registered retirement savings plans, says Steven McCormick, senior vice-president of plan operations at the HOOPP.

According to the survey, a secure retirement remains of greater concern for Canadians than concerns about their health, debt load and job security. McCormick says this has been a consistent worry the HOOPP has seen in survey results over the past couple of years. Nearly half (48 per cent) of respondents said they’re very concerned about having enough money in retirement, while 31 per cent were highly concerned about their personal debt load and 26 per cent cited their job security. Close to half of respondents expressed high concerns for their physical (43 per cent) and mental (40 per cent) health.

In addition, the pandemic has harmed the finances of more than half (52 per cent) of Canadians’ surveyed and it’s had a particularly disproportionate affect on the finances of younger adults. Adults aged 44 and younger said they’re twice as likely (25 per cent) to have had their finances greatly harmed, compared to those over the age of 60 (12 per cent).

Generally, younger adults tend to work in roles that may have been impacted most by the pandemic, says McCormick, whether in service industries that were shut down or frontline health care that have been busy but don’t always come with access to a pension plan. “Affordability is an issue, so I think their worries increased during this time.”

And while almost half (46 per cent) of Canadians surveyed said they’ve saved more money than they would have since the onset of the pandemic, among these respondents, over half (52 per cent) didn’t put any of their savings toward their retirement. Overall, most (63 per cent) Canadians surveyed haven’t set aside or saved anything for retirement in the past year, a five-point increase since 2019.

McCormick says this may be due to uncertainty or hesitancy about whether people’s immediate needs outweigh longer-term needs. And with 55 per cent of respondents noting they were very concerned about the cost of day-to-day living, he adds that rising prices have fuelled insecurity and worries so people are creating their own emergency funds right now.

While there’s a segment of the population who’ve saved more and, for them, the pandemic has created wealth, he doesn’t see this as a common narrative in the survey data. “If you don’t have access to a workplace pension or the opportunity to have things like automatic enrolment, the uncertainty of the time may have you holding onto money,” says McCormick. “In Ontario, we’re more optimistic about the pandemic than we were maybe a month ago, but there are still people worrying about whether there’ll be a fourth wave.”

In addition, more than two-thirds (67 per cent) of respondents said a retirement crisis is looming and 65 per cent said saving for retirement is prohibitively expensive. It’s a common and shared dream for many people in looking forward to a secure retirement, says McCormick, noting for many, making that dream a reality remains elusive.

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