Head of the company Tim Kook blamed the decline in sales on a number of factors, including China's economic downturn, foreign exchange rates, the popular battery replacement program and reduced smartphone subsidies.
With the decline in iPhone sales, Apple is the first holidays quarterly revenue decline since 2000 Apple Finance Director Luca Maestri told analysts that the company expects some of Cook's factors to continue to "affect iPhone performance" in the current quarter.
2. Fed Decision: The Federal Reserve will announce its first monetary policy decision on Wednesday. The central bank is expected to keep the rates.
Financial markets fluctuated at the end of last year, partly due to the fear that the Fed will raise interest rates in the face of economic risks.
President Jerome Powell is holding a press conference at ET and analysts will listen carefully to whether he repeatedly confirms that the bank will be "patient" about raising future rates. According to HSBC, at least two subsequent meetings would not raise the rate.
Another thing to look at is the Fed's readiness to slow down or even stop the process of unloading some of its bonds to reduce long-term rates. Some investors believe that the Fed's shrinking balance sheet contributes to the market turmoil.
The complication of the Bank's work is the fact that the economic reports that must be executed this week may be delayed due to the recent discontinuation of the US government.
Quarter 4 GDP is scheduled for Wednesday and a report on people's income and expenditure will be prepared on Thursday. However, employees may not have time to complete data collection and analysis in order to meet deadlines for publication.
See CNNMoney & # 39; & # 39; Markets Now & # 39; & # 39; at 12:45 ET
3. Trade talks resume: Representatives of the Chinese and US administrations will meet in Washington on Wednesday to try to reduce the trade war started last year.
Tariffs for hundreds of billions of commodities traded between the two largest economies in the world have harmed businesses, shattered the financial markets, and contributed to concerns about the global downturn.
US President Donald Trump and Chinese leader Xi Jinping agreed on a ceasefire last month, and their governments are trying to negotiate a lasting agreement to end the war.
The US Department of Justice revealed a number of criminal charges against Huawei earlier this week, including the theft of commercial secrets. Huawei, who denies the accusations, has become a powerful symbol of growing competition between the US and China to decide who will become the world's leading technology superpower.
4. Ghosn Speaks: Former author legend Carlos Ghosn says he was the victim of a Nissan driver plot to squeeze him out. In an interview with Japanese Nikkei – his first when he was arrested in Tokyo in November – former Nissan and Renault president said the charges against him were the result of a "plot and betrayal".
In Japan, Ghosn has been charged with charges that include cutting tens of millions of dollars in revenue over the past eight years in the Japanese securities filing system. He denies allegations.
The British pound was jittery overnight with the increasing risk that the UK could leave the European Union in less than two months without an agreement to protect important trading links.
On Tuesday, the UK Parliament urged Prime Minister Theresa May to resume talks on the Brexit divorce agreement with the European Union. EU officials reiterated that the deal agreed by all 27 EU Member States and May was not open for renegotiation.
"Hard Brexit is the default, unless a deal or delay is made before the Brexit day on March 29, 2019," said Kallum Pickering, senior economist at Berlin. "Since it was only 58 days left for the UK to leave the EU, we are increasing the risk that the deal will not be a transaction from 20% to 30%," he added.
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On Wednesday – Fund rate decision; AT&T (, )McDonald's (, )Boeing (, )Microsoft (, )Facebook ( and )Tesla ( report profits )
Thursday – Amazon, GE and UPS ( report profits )
On Friday – Labor report, ISM production index, Consumer sentiment report; Exxon ( and )Chevron ( report profits )