The Bad Stuff That the Stock Market Worried About Is Starting to Happen
- From Apple’s sales warnings to an ISM miss, it’s piling up
- ‘Fundamentals are strong’ has been rallying cry against rout
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All of a sudden, the fundamentals aren’t looking as strong.
First it was Apple Inc.’s $5 billion revenue miss, hints of which lopped 30 percent from its stock over three months. Now it’s a closely watched gauge of U.S. factory activity, which dropped to a two-year low and missed every estimate in a Bloomberg survey.