MID-DAY: Apple worries hit hard in North American markets, tanking Bay and Wall Street
After a solid start, Apple is now tanking North American markets as investors fret over iPhone sales. Both Bay and Wall Street are in the red with the drop. The TSX is down 14 points to 15,117 and the Dow is sliding 52 points to 25,233. Analysts have suggested the company likely is hitting a wall with it’s phone sales.
This drop comes despite a rebound in crude as US oil continues to grow to 56.87 a barrel. The Loonie is also gaining some strength from the energy sector to 75.55 cents US.
Meanwhile, pot producers are coming in below expectations with earnings reports since legalization hit in Canada. Canopy Growth reported its costs skyrocketed in the ramp up to October 17th.