In European Equity Markets closed lower on Thursday as a revenue guidance cut from Apple fueled fears of a decline in global economic growth. The pan-European Stoxx 600 index ended down 0.9 percent at the end of the session, with all major bourses in the red. The FTSE closed down 0.49 percent, while the CAC and the DAX were both around 1.5 percent lower. Apple suppliers in the continent were down heavily, with shares of Austrian chip-maker AMS falling 23 percent and Swiss firm STMicroelectronics down nearly 12 percent at the close.

In Currency Markets sterling fell across the board on Thursday after worries about the health of the global economy and particularly China sparked an investor exodus from currencies considered riskier. The British currency hit as low as $1.2409 against the dollar, while it fell to as weak as 91.02 pence per euro, a 16-month low. A parliamentary debate on May’s deal with Brussels kicks off next week, with a vote scheduled for the week of Jan. 14. The PMI survey for Britain’s much larger services sector is due out on Friday.

In Commodities Markets oil prices edged lower in choppy trade on Thursday, pressured by concerns about slowing global economic growth that could dent demand for crude but drawing support from signs of output cuts by Saudi Arabia. Brent crude futures fell 27 cents to $54.64 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 60 cents to $45.94 a barrel, a 1.3 percent loss. Prices traded in a wide range, with Brent hitting a session high of $56.30 a barrel and a low of $53.93 a barrel. WTI posted a session high of $47.49 a barrel and a low of $45.35 a barrel.

In US Equity Markets stocks fell 2 percent on Thursday as weak U.S. factory data and the fallout of a rare sales warning from Apple Inc fanned fears of slowing growth. Apple’s shares fell 9.2 percent after the company slashed its holiday-quarter revenue forecast saying sales in China slowed more than expected, the first major warning with the U.S. earnings season around the corner. The S&P 500 fell 1.96 percent, at 2,460.72 and the Nasdaq Composite declined 2.23 percent, at 6,517.53. The Philadelphia Semiconductor index fell 4.36 percent.

In Bond Markets Treasury yields fell on Thursday after data showed a significant drop in U.S. manufacturing activity, extending overnight losses prompted by a revenue warning issued by Apple that sent investors fleeing to safe-haven instruments. The benchmark 10-year U.S. government note yield fell to a session low of 2.58 percent. It last traded down 7.9 basis points, having fallen below 2.6 percent for the first time since January 2018. The two-year Treasury yield fell to its lowest since June 7 and was last down 6.9 basis points at 2.44 percent.