Apple's shock profit warning sends European shares sliding

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Firms with exposure to China hit over fears the Silicon Valley giant’s slowdown could spread

Apple’s shock downgrade has sent shares in European-listed companies with exposure to China – from Burberry and the Gucci owner, Kering, to chipmakers and miners – tumbling over fears the slowdown that has hit the Silicon Valley giant is set to spread.

The luxury clothing and accessories maker Burberry, which generates substantial sales from Chinese shoppers, was among the biggest early fallers in the FTSE 100, losing more than 3% as the contagion of Apple’s surprise profit warning citing the “magnitude” of the economic slowdown in China spreads to European markets.

Related: Stocks under pressure after Apple downgrade shock – business live

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Source: china
Link : Apple’s shock profit warning sends European shares sliding


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