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Markets

Apple warning heads to Asia after taking big bite out of Dow

iPhone maker's shares drop 10% as investors fear China slowdown

Global uncertainties are sending tremors through the markets, with the Dow Jones Industrial Average sinking more than 650 points at one point on Jan. 3.   © Reuters

NEW YORK/TOKYO -- The Dow Jones Industrial Average closed 660 points lower on Thursday amid growing concerns that Apple's lackluster showing last quarter is only a sign of a coming downturn in the world economy.

The bearish sentiment was expected to spread to the Tokyo Stock Exchange's first trading session of the new year on Friday. March futures for the Nikkei Stock Average fell below 19,300 at one point Thursday on the Chicago Mercantile Exchange, down over 700 points from the index's ending price for 2018.

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