stock market: Meanwhile the dollar sagged on worries about the US economy after a steep drop in home builder sentiment and oil prices fell half a per cent despite OPEC production cuts in what was a brutal day for investors' risk sentiment, according to Nine News Australia. News around Apple Inc triggered the latest bout of stock market selling, after the Wall Street Journal reported the consumer tech giant is cutting production for its new iPhones. To improve your experience update it here News Worldi Phone worry causes global markets ripples9 30pm Nov 20, stock markets have fallen as worries over softening demand for the iPhone prompted a tech stock selloff across the world, while the arrest of car boss Carlos Ghosn pulled Nissan and Renault sharply lower. This hit world stock markets with the European tech sector sinking 2 per cent and hitting its lowest level since February 2017 as stocks supplying chips to Apple suffered, following Asian tech stocks lower. The European auto sector was not far behind, dropping 1.6 per cent, and the broad European STOXX 600 index was down 0.9 per cent to a four-week low. The selloff was compounded by an auto sector drop led by Nissan and Renault after Ghosn, chairman of both carmakers, was arrested in Japan for alleged financial misconduct.
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