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News Wrap: Slowing iPhone sales in China drive stock market plunge

In our news wrap Thursday, Apple's announcement of slowing iPhone sales in China caused a meltdown on Wall Street. The Dow Jones dropped more than 600 points and the NASDAQ lost 200 amid concerns over trade tensions and a potential economic slowdown. Also, the State Department is urging caution for Americans traveling in China, as authorities there have barred some people from leaving the country.

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  • Judy Woodruff:

    In today's other news: Wall Street went into meltdown mode again, as tech stocks took their worst beating in seven years. It came as Apple warned of slowing sales in China, adding to existing concerns about the Chinese economy.

    The Dow Jones industrial average lost 660 points to close at 22686. The Nasdaq fell 202 points, and the S&P 500 dropped 62. Trade tensions with China also contributed to the sell-off.

    But White House economic adviser Kevin Hassett said that Beijing's economic worries will pressure it to reach a deal.

  • Kevin Hassett:

    Make no mistake. The Chinese economy is on a path that we haven't seen in decades. And that is something that will affect companies that operate in China.

    And so there is a lot of room for positive gain in the Chinese negotiations. And I think the fact that their economy is having trouble right now shows that our policies have been effective in getting them to the table.

  • Judy Woodruff:

    Hassett said that China's economy is now facing — quote — "what for them might be called a recession."

    We will get some insight into all of this after the news summary.

    The U.S. State Department is again warning Americans in China to use increased caution. An updated advisory today says Chinese authorities have arbitrarily barred people from leaving the country with so-called exit bans. All of this follows the arrest of a Chinese tech executive in Canada last month. China then detained two Canadians.

    In Saudi Arabia, prosecutors announced today that they will seek the death penalty for five men accused in the killing of journalist and dissident Jamal Khashoggi. They were among 11 suspects who had an initial court hearing. Khashoggi was murdered at the Saudi Consulate in Istanbul last October.

    A special tribunal in Afghanistan has convicted three men of murdering journalist Ahmad Shah. He worked for the BBC and Reuters and was shot dead in Khost province last April. In all, 15 journalists were killed in Afghanistan last year. That is the most in any country.

    Police in Southern India arrested hundreds of protesters today after two women entered a Hindu temple, in defiance of an ancient ban. Demonstrators from conservative Hindu groups marched, clashed with officers and burned effigies. The protests shut down much of Kerala state. Last September, India's Supreme Court lifted the ban on women accessing the temple.

    And in a lunar first, China says it landed an unmanned space probe on the far side of the moon today. Over the years, the U.S., the former Soviet Union, and China have sent spacecraft to the moon's surface, but always on the near side.

    We will have a closer look later in the program.

    Also ahead on the "NewsHour": market volatility following Apple's warning of slumping iPhone sales; the secretary of state demands the immediate release of an American charged with espionage in Russia; Making Sense of the rise in popularity of socialism among a new generation of Americans; and much more.

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