A revenue warning from Apple Inc rocked equity markets around the globe on Thursday as concerns over a damaging Sino-U.S. trade battle and its impact on world economic growth boosted assets considered safer investments, such as bonds and the Japanese yen.

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Technology stocks led a selloff in Asian, European and U.S. stock markets after Apple, blaming weaker iPhone sales in China, cut its revenue forecast for the first time in nearly 12 years. Apple`s U.S.-listed shares were last down 8.1 percent.

That heightened concerns that sluggish global growth may be reflected in the United States, where corporate earnings season is set to kick off in a few weeks.

Survey data from the Institute of Supply Management showed U.S. factory activity slowed more than expected in December, sending stocks on Wall Street lower.

"That negative economic data, combined with the PMI (data) in China a couple of days ago, reconfirms the market`s concerns that the global economy is slowing," said Jeremy Zirin, head of equities at UBS Global Wealth Management`s Chief Investment Office.

Zirin said Apple`s warning "raises concerns that we could see a broad-based weakness among companies with a high level of exposure to China."

Treasury yields fell and prices surged after the U.S. manufacturing activity data, extending overnight losses prompted by the Apple warning that sent investors fleeing to safe-haven instruments.

The benchmark 10-year U.S. government note yield us10yt

German government bond yields also reached their lowest level in more than two years.

In the U.S. equity market, the Dow Jones Industrial Average fell 424.47 points, or 1.82 percent, to 22,921.77, the S&P 500 lost 36.25 points, or 1.44 percent, to 2,473.78 and the Nasdaq Composite dropped 124.94 points, or 1.87 percent, to 6,541.00.

MSCI`s gauge of stocks across the globe shed 0.81 percent, while in Europe, the STOXX 600 ended down 0.98 percent. CURRENCIES

Apple`s news also roiled the currency markets, with the safe-haven yen climbing against the dollar jpy

The dollar touched its lowest level against the yen since March 2018, while the Australian dollar at one point hit levels against the Japanese yen not seen since 2011.

The dollar index , measuring it against a basket of six other currencies, was last down 0.6 percent. The euro eur

Keeping with the risk-off theme, gold prices hit a 6-1/2-month peak. Spot gold xau

Copper prices cmcu3

Brent crude clc1

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)