What you need to know
- Apple's stock price has tumbled in early trading.
- At the time of writing, it has fallen $20.50, more than 7.5%.
- The S&P 500 also fell as a whole in similar numbers, forcing trading to be temporarily suspended.
Apple's stock price has tumbled as much as 7.69% in early trading, wiping more than $20 off its share price.
The prospect of the stock rapidly falling was first evident in pre-market trading, where AAPL's share price was showing losses of 7.16%.
AAPL is down 7.16% in pre-market trading, could open as low as 255.80.AAPL is down 7.16% in pre-market trading, could open as low as 255.80.— Stephen Warwick (@StephenWarwick9) March 12, 2020March 12, 2020
At the bell, the entire S&P 500 tumbled by as much as 6.5 %, forcing a 15-minute temporary halt in trading:
BREAKING: Dow, S&P 500 and Nasdaq plunge more than 6.5% at the open https://t.co/jODyUs8On1 pic.twitter.com/xZKHMk3CDYBREAKING: Dow, S&P 500 and Nasdaq plunge more than 6.5% at the open https://t.co/jODyUs8On1 pic.twitter.com/xZKHMk3CDY— CNBC Now (@CNBCnow) March 12, 2020March 12, 2020
As you can see from the graph above, AAPL dipped as low as $253.95 at 10:00 am ET. At the time of writing the share price has fallen by nearly 7.5%.
The only solace for Apple in the current situation is that all global markets are sliding in a similar direction.
In more encouraging news for Apple, earlier today Foxconn reported that its return to normal levels of production had "exceeded expectations". From that report:
As noted, trading was temporarily suspended after the S&P 500 slid more than 7%, upon reopening, declines were extended to 7.5%. The Dow has also plummeted by 9%, and most recent figures put the S&P 500 slide at more than 8%.
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple.
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