Investors looking for a strong start to 2019 were not given much to cheer about on Wednesday.
Stocks had a choppy first session of the year, followed by a bombshell announcement late in the day from Apple.
In a letter to investors Apple CEO Time Cook warned sales will be lower in the current quarter than its original forecast, citing economic weakness in emerging markets, especially in China.
That sent apple stock plunging in after hours trading, putting Apple's stock market value just below $700 billion, down 37 percent from a peak of over $1 trillion in October.
The Apple warning came at the end of a volatile session for stocks..
The Dow dropped nearly 400 points early on, then recovered all its losses, teetering between positive and negative territory for the rest session before closing with small gains.
Hardly the robust performance investors might have been hoping for after a disasterous December brough the S&P 500 to the cusp of a new bear market..
President Donald Trump Wednesday referred to December's plunge in stocks as 'a little glitch' and predicted that the market would rebound once he settles his trade dispute with China.