There were some big names taking a hit on Wednesday shedding light on the state of the global economy and none bigger than Apple (NASDAQ:AAPL).
The tech behemonth saw shares slide after it reported a slow-down in iPhone sales growth.
The numbers kind of say it all. The 74.8 million iPhones (that's more than the population of the UK) the group sold in the three months to December 26 was the weakest expansion since their introduction in 2007.
This is the kind of problem that only a constant over-achiever like Apple has to face.
"...when your grades start to slip just a little, people start questioning your calibre," noted Laith Khalaf at Hargreaves Lansdown, after shares in the firm slid 5.59% to US$94.40 in New York - now well below the US$100 mark.
The repercussions and ripples from news from a giant like Apple of course seep through across the tech and software markets, indeed, the whole market.
The Nasdaq was down 48. IBM (NYSE:IBM) shares are down 0.58%. ARM Holdings (LON:ARM) in London dropped 2.41%.
Another US group taking a hit was Boeing (NYSE:BA), the giant aircraft maker, after it missed market expectations in its fourth quarter of 2015.
The firm now forecasts lower-than-estimated 2016 core earnings, due to fewer commercial planes being delivered this year.
In other big macro news, the oil market continues to free fall and now the World Bank has weighed in- cutting forecasts for crude prices this year, saying the cost of a barrel of crude will stay around where it is now for the rest of 2016.
What's hot in a cool market?
RegeneRx Biopharmaceuticals (OTCMKTS:RGRX) rose 5.2% after saying its candidate Thymosin beta 4 has been shown to regenerate and repair damaged cells of the central nervous system.
Alliqua Biomedical (NASDAQ:ALQA) rose 10% to $1.74 after the provider of advanced wound care products signed a national group purchasing agreement with HealthTrust.
Biogen (NASDAQ:BIIB) rose 6.6% to $277.05 after the biotech company’s fourth-quarter profit and sales topped expectations.
What's not?
Tupperware Brands (NYSE:TUP) tumbled 16% to $43.35 after the strong dollar spurred the maker of plastic food ware to provide downbeat guidance on the heels of posting a worse-than-expected drop in sales in the latest quarter.
ADRs of Novartis (NYSE:NVS) fell 4.4% to $78.99. The Swiss drugs giant said a weak performance from its Alcon eye-care unit contributed to it posting a 57% drop in net profit for the fourth quarter.