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Apple shares drop below $100 for first time since August

Japanese daily Nikkei, citing parts suppliers, said output of the iPhone models would be cut by about 30 per cent in the January-March time frame so dealers could offload stock.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 1.4 per cent, hitting its lowest level since late September.
The fall in world stocks on Monday, the first trading session of 2016, marked the steepest opening day losses in years for many indexes.
The People's Bank of China again surprised markets by setting the official midpoint rate on the currency at 6.5646 yuan per dollar, the lowest since March 2011.
After an opening skid, the CSI300 index of the largest listed companies in Shanghai and Shenzhen rebounded to be 0.7 per cent higher.
In a reversal of one of 2015's major trends, oil shares moved higher, with the S&P energy sector up 0.34 per cent and alone among gainers.
Shares of oil majors Exxon and Chevron fell and the energy index dropped 3.6 per cent as oil prices plunged below $35 a barrel.
The yuan was stable against a basket of other currencies in 2015, CFETS said in a statement published on its website.
China moved to shore up shaky sentiment on Tuesday, a day after its stock indexes and yuan currency tumbled, rattling markets worldwide.
US data sparked further concern as factory activity weakened unexpectedly in December, according to the Institute for Supply Management.
"Volumes have been very light at the moment, but that has seemingly been positive news for markets across the region," he said.