Chinese economy concerns wipe $40bn off value of Apple
by Larry Elliott and Jill Treanor from Technology | The Guardian on (#F4F7)
Fall in share price of world's biggest company mirrored by slide in stocks in mining and commodity firms to their lowest level since market crash of 2008
Growing concerns about the health of the Chinese economy helped wipe $40bn off the value of Apple on Wednesday despite the company reporting a sharp increase in global sales and profits.
The 5% fall in share price in the world's biggest company was mirrored by a slide in shares in mining and commodity firms to their lowest levels since the stock market crash of 2008. Investors regard the mining and commodities industries as vulnerable to a slowdown in the world's second biggest economy.
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