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Trade war fears, looming iPhone production cuts weigh on Wall Street

Investors were also cautious ahead of a contentious G7 summit in Canada, with Donald Trump lashing out at Canada and the European Union on Friday, raising the specter of a trade war

Reuters 

U.S. stock indexes dipped on Friday as fears over a trade war escalated ahead of the G7 summit in Canada and shares of Apple and its suppliers fell, following a report that the iPhone maker was planning to produce fewer phones this year. Apple Inc was down 1.6 percent after a newspaper report said the company had asked its supply chain to manufacture about 20 percent fewer components for iPhones in the latter half of 2018. Investors were also cautious ahead of a contentious G7 summit in Canada, with U.S. President Donald Trump lashing out at Canada and the European Union on ...

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First Published: Fri, June 08 2018. 23:20 IST
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