Apple’s gloomy forecast is weighing heavily on North American markets. The iPhone-maker pulled back on its first quarter prediction pointing to a sliding Chinese economy with concerns it would hit device sales. This has caused havoc across the markets as investors flock to safe-haven options worried about a global economic recession.

On Bay Street the TSX is down 166 points to 14,180 and across the border the Dow is down 567 points to 22,779.

Gold is pushing ahead to 1,291 an ounce.

The price of crude is turning volatile again as US oil falls to 46.13 a barrel.