ASX to slip, Apple drags Wall Street lower

News Snapshot:

On Wall Street, Apple extended losses for a second session amid concerns that China has effectively banned iPhones at government offices as well as state-owned companies. Analysts were divided on what it meant for Apple as well as other non-Chinese tech companies. After plunging earlier, Apple pared some of the initial swoon, though it was still sharply lower for the day. In a speech, Bank of Canada governor Tiff Macklem said the bank’s 2 per cent target is “now in sight”. Policymakers earlier this week voted to keep the cash rate at 5 per cent. Canada’s economy shrank at a...