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The Dow Jones lost more than 500 points and the Nasdaq fell 2.8%.
Shares of Facebook have dropped more than 5% as the company continues to face the fallout from a New York Times article detailing Facebook's reaction to political control and its scandal over Cambridge Analytica. According to the Wall Street Journal, CEO Mark Zuckerberg has reportedly adopted a more aggressive style of war.
Early in the day, stocks dropped to news that Apple's new line of phones might not sell as well as Apple or its investors expected.
Apple's shares fell again after the Wall Street Journal announced that Apple had reduced orders for its iPhone XR, iPhone XS and iPhone XS Max.
The new iPhones, unveiled by Apple in September, cost more than previous versions. The $ 749 iPhone XR is the new cheapest iPhone, but it costs $ 50 more than last year's least expensive iPhone 8 model.
The iPhone XS Max can cost up to $ 1,449. The higher prices – without many more features – could entice customers to keep their current phones longer or to buy models from last year.
Apple declined to comment on the history of the Review or worry about the iPhone application.
Apple shares fell 4% and now plunged about 20% from the unprecedented high of a few months ago, when Apple (AAPL) was worth more than $ 1 trillion.
The stock ended Friday after the loss of 5 days of slippage after a Morgan Stanley analyst suggested that the supplier's concerns were exaggerated.
Apple, which is a member of the Dow, also hurt blue chips.
Several chip makers and other components used in iPhones have warned of slowing sales and profits in recent weeks, citing weak demand for high-end smartphones.
To this end, shares of Apple suppliers, such as Qorvo (QRVO), Broadcom (AVGO), Cirrus Logic (CRUS) and even the main competitor Samsung phone, Anrdoid, were all lower on Monday. Samsung also manufactures chips for iPhone.
Investors have other reasons to worry about the future of Apple, as well as other large high-tech companies.
Apple CEO Tim Cook said Sunday in the show "Axios on HBO" that he expects Washington to attack tech companies as a result notorious privacy scandals, such as the Cambridge Analytica issues that affected Facebook (FB).
"I'm not a big fan of regulation," Cook told Axios on HBO. "I strongly believe in the free market, but we have to admit that the free market does not work, and it has not worked here, I think it's inevitable that there is a certain level." regulation. "
HBO, like CNN, is part of WarnerMedia, which belongs to AT & T (T).
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