€46bn wiped off Apple value

Apple saw $50bn (€46bn) wiped off its value yesterday despite another bumper profits announcement.

The technology giant was given the thumbs down by Wall Street as its latest update failed to provide much detail on the performance of its new smartwatch and gave a cautious outlook for the current quarter.

In London, the Apple slump - which also fed into other stocks in the sector - was among a cocktail of factors that saw the FTSE 100 Index slide by more than 100 points during the session.