Fasten your seatbelts. It’s going to be a bumpy day.
In the context of a global market reset, how does Apple’s 4% drop in overnight trading compare? From Friday’s New York Times:
“The British pound plummeted by 10%, reaching levels not seen since 1985 — well below the value at the worst of the 2008 financial crisis. The euro dropped nearly 4%.
“Stock markets across Asia recoiled, with the major Japanese index, the Nikkei, down nearly 8%. As markets opened in Europe on Friday morning, the rout accelerated. Stocks in London were instantly down nearly 16%, shares in Frankfurt lost 10 percent, and the exchange in Paris was off 8%. Investors took refuge in the safest investments, bolstering the value of British government bonds and the Japanese currency.”