It’s the Trump Touch, you see.
In its Wednesday evening briefing, the NY Times reports bad news for the economy as tech giants’ shares take a hit.
Apple cut its first-quarter revenue forecast, citing a steep drop in sales in China.
In a letter to shareholders, the company said it expected revenue of about $84 billion in the quarter that ended Dec. 29, down from a previous estimate of $89 billion to $93 billion.
The company’s announcement added to concerns about the ability of U.S. tech giants to navigate an increasingly uncertain economy and a continuing trade war with China.
China has become Apple’s third-largest market in recent years, driven mostly by iPhone sales.
And Tesla reported record quarterly production and deliveries — but also announced a price cut that sent shares nearly 7 percent lower.
The DJIA opened sharply lower, dropping below 23,000, this Thursday morning.
And the government remains shut down, depriving our citizens of crucial services. The Times also reported on the effect of the shutdown on Native Americans.
Native Americans are among those hit hardest by the partial government shutdown, with tribes across the U.S. scrambling to make up for lost federal funding.
Among the services curtailed: a food program that fed 90,000 people last year.
Generations ago, tribes negotiated treaties with the U.S. government that guaranteed money for services like health care and education in exchange for huge swaths of territory. Above, at a New Year’s powwow in Sault Ste. Marie, Mich.
“The federal government owes us this,” said the chairman of one tribe. “We prepaid with millions of acres of land.”
I don’t suppose you’d believe me if I told you that Trump took credit for this mess he created.
Naw. He’s blaming Chuck and Nancy.