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Apple's first sales warning in nearly 12 years sent European shares sliding on Thursday, with the tech sector particularly badly bruised as chipmakers that supply the iPhone maker fell sharply.
The pan-European STOXX 600 fell 0.9 percent as weak US manufacturing data added to nerves over slowing global growth.
Apple's Frankfurt-listed shares fell 9.4 percent after the tech giant cut its sales forecast, blaming weaker iPhone sales in China, whose economy has been hit by a trade war with the US.
"What the market is wrestling with is whether it is indicative of a wider malaise in perhaps both the world economy and China," said Peter Rutter, head of global equities at Royal London Asset Management.
Europe's tech sector sank, falling 4.2 percent, only a few points short of its worst daily performance since the Brexit vote in June 2016.
Chipmakers that supply parts to Apple were the worst hit. Shares in AMS, which provides facial recognition sensors used in the latest iPhones, fell 23.1 percent to the bottom of the STOXX.
Other big losers included STMicroelectronics, down 11.6 percent, Dialog Semiconductor, off 9.7 percent and Logitech, which was down 5.8 percent.
Luxury goods shares, which are also highly sensitive to signs of slowing demand in China, joined the selloff.
LVMH, Gucci owner Kering and Burberry were down between 3.8 percent and 5.9 percent.
Elsewhere, staffers Adecco and Randstad fell 5.2 percent and 6.8 percent respectively after a rating downgrade by Credit Suisse.
Among rare gainers, Next shares rose 4.1 percent after the clothing retailer reported a rise in sales in the run-up to Christmas in line with its expectations.

Copyright Reuters, 2019

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