Apple Shares Tumble 5% Amidst China Concerns

Apple suffered a 5% drop in its share price Tuesday as Wall Street reacted strongly to news from China that the government is further devaluing the yuan. The currency devaluation is likely to increase import costs of devices for Apple in the region. The announcement from China’s central bank that official guidance for the yuan would be reduced 2% to 6.2298 yuan per dollar,… Read More...