Apple`s coronavirus warning spooks markets - business live
(The Guardian Business News)

Rolling coverage of the latest economic and financial news 7.23am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.`Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated.As a result, we do not expect to meet the revenue guidance we provided for the March quarter.`All of our stores in China and many of our partner stores have been closed. Additionally, stores that are open have been operating at reduced hours and with very low customer traffic. We are gradually reopening our retail stores and will continue to do so as steadily and safely as we can.` Related: Apple warns of coronavirus causing iPhone shortages Maybe it needs $1.4tn comp to sound alarm bell: Apple warns that quarterly rev would fall short of $63-67bn guidance it gave few wks ago b/c of supply&demand shock in China. Ripple effects from coronavirus may become apparent, hit mkts in complacency mode. https://t.co/xMMP33c52G pic.twitter.com/3EwZfaFwuMEuropean Opening Calls:#FTSE 7391 -0.56%#DAX 13712 -0.52%#CAC 6054 -0.52%#AEX 626 -0.47%#MIB 25036 -0.34%#IBEX 9973 -0.50%#STOXX 3833 -0.52%#IGOpeningCallEven though Apple´s manufacturing partner facilities resumed activity last week, China hasn´t managed to get back to a normal rhythm just yet, and the latter could take a couple of more weeks, if not months. The risk appetite remains fragile and gains in equity markets remain vulnerable to coronavirus related news. Continue reading...