Goldman Sachs was recommending investors “sell” shares in Apple, while Tesla recorded its worst day of trading in the firm’s history.
The sell offs are likely to impact the FTSE 100 at the start of trading today.
The London market suffered yesterday due to the sell offs and due to the uncertainty over a no deal Brexit spooked investors.
After making gains on Monday it was unable to continue the bull run.
The Index clung to its opening mark, down 7.1 points or 0.1 percent at 5930.3.
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10.07am update: FTSE 100 gains as pound hits six week low
FTSE 100 edged higher on Wednesday as Brexit fears led the pound to a six-week low, while AstraZeneca tumbled after suspending trials of its leading COVID-19 vaccine.
Export-heavy firms propped up the blue-chip index as the pound slid after new legislation by the British government on the country’s post-Brexit plans stoked fears of a derailment of trade talks with the European Union.
The gains in stocks were limited as AstraZeneca Plc’s 1.1 percent decline weighed heavy on the FTSE 100 after the company said an unexplained illness in a study participant had led it to pause global trials, including large late-stage trials, of its experimental coronavirus vaccine.
“This news won’t help investor sentiment given a vaccine is the most likely route back to some sort of normality, although Astra’s effort is just one of several being trialled globally and some hiccups are to be expected in the development of any new medicine,” AJ Bell investment director Russ Mould said.
9.06am update: Pound drops this morning
The pound at 9am was 1.2954 dollars compared to 1.3024 dollars at the previous close.
The euro at 9am was 0.9090 pounds compared to 0.9047 pounds at the previous close.
8.18am update: FTSE 100 remains steady
The FTSE-100 index at 7.44am was unchanged at 5930.30.
6.00am update: FTSE 100 Tuesday trading recap
On Tuesday the biggest FTSE 100 risers were JD Sports ahead 71.2p at 795.8p, DS Smith up 21.9p at 294.8p, Experian 125p stronger at 2,924p and RSA Insurance 18.1p higher at 459p.
The biggest FTSE 100 fallers were Associated British Foods down 79p at 1,959p, Whitbread off 90p at 2,451p, M&G 5.35p lower at 160.1p and Royal Dutch Shell 32.8p weaker at 1,023.6p.