iPhone component makers are in turmoil, claims a WSJ report, as a result of Apple having to slash production orders for the iPhone XS, iPhone XS Max, and the iPhone XR as a result of weaker than expected demand.
Apple recently made the decision to stop disclosing iPhone sales numbers as part of its quarterly earnings reports.
That's because in addition to cutting back on iPhone XR production earlier this month, Apple has reportedly told manufacturers it will also cut back on iPhone XS production, says the Wall Street Journal.
Warnings from Apple supplier Lumentum were seen as causing a general stock market tumble a week ago, as investors see Apple as a bellwether for the crucial tech industry.
Lumentum Holdings Inc (LITE.O), AMS AG (AMS.S), companies which supply Apple with software needed for its FaceID technology, also lowered their forecasts.
TSJ en el exilio pide a Interpol "alerta roja" contra Maduro
El cuerpo legislativo instaló su sede en la Organización de Estados Americanos (OEA) en Washington D.C. en octubre del año pasado.
Trading volumes were thin in a holiday-shortened week ahead of Thanksgiving on Thursday and a shorter session on Friday which brings a slight volatility to markets, traders said.
The rest of the so-called FAANG stocks - Facebook Inc, Amazon.com Inc, Netflix Inc and Alphabet Inc - shed between 3 per cent and 1.3 per cent.
A 2.6% decline in technology shares and 1.3% fall in consumer discretionary stocks led eight of the 11 major S&P sectors lower.
Over the weekend, Asia-Pacific leaders failed to agree on a communique for the first time ever at a meeting in Papua New Guinea with US-China trade worries on the forefront.
China's JD.com Inc slipped 6.2 per cent after reporting third-quarter revenue below analysts' estimates on sluggish sales in its core e-commerce business. Only the headline has been changed.