Wall Street braces for slump after Apple downgrade shock – business live

European markets weaken as phonemaker sparks China growth fears
Apple’s shock profit warning sends European shares slidingApple stocks tumble after company cuts forecasts for key quarter 1.16pm GMT Shares in AstraZeneca and GlaxoSmithKline have been buoyed by the $74bn Bristol-Myers Squibb deal with Celgene.Both were in negative territory earlier in the day, but AstraZeneca is now up by 1.6% and GSK has gained 0.9%. Look at the jump in AstraZeneca’s share price after the deal was ann