North American stocks markets move lower after Apple says iPhone sales slow

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TORONTO — Canada’s main stock index posted a triple-digit decline due to a broad-based move lower, while U.S. markets plunged after Apple reported a slowdown in iPhone sales over the holidays in China.

The S&P/TSX composite index was down 189.74 points at 14,157.42.

In New York, the Dow Jones industrial average was down 576.62 points at 22,769.62. The S&P 500 index was down 49.47 points at 2,460.56, while the Nasdaq composite was down 148.09 points at 6,517.85.

The Canadian dollar traded for 74.02 cents US compared with an average of 73.50 cents US on Wednesday.

The February crude contract was down 58 cents at US$45.96 per barrel and the February natural gas contract was down 6.3 cents at US$2.89 per mmBTU.

The February gold contract was up US$7.90 at US$1,292 an ounce and the March copper contract was down 7.05 cents at US$2.55 a pound.

 

Index and currency in this story: (TSX:GSPTSE, TSX:CADUSD=X)

 

The Canadian Press