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Equity markets continue to trade weaker as Apple Inc, a Dow Jones listed company issued caution on its forward guidance. All major indices fell for the third day as a result.
This is largely attributed to the fact that many of Apple Inc’s suppliers are based in China.
Many other companies are likely to follow suit amid concerns of slower demand from the world’s second-largest economy. Economic data remains sparse. Consequently, investor concerns remain somewhat alleviated.
German ZEW Economic Sentiment Falls in February
The economic sentiment index for Germany fell in February to 8.7, which is reflecting falling investor confidence. The index fell from 26.7 in January.
The report comes a day after the Bundesbank said that growth in the first quarter of 2020 could be sluggish. The decline is a result of the virus outbreak concerns which will impact an already fragile economic recovery.
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