Futures on the S&P and Nasdaq were both marginally lower, after climbing to record closing highs late last week.

Posted on February 18, 2020

Wall Street stocks were closed on Monday, as investors observed a market holiday.

Apple has cautioned it does not expect to meet its quarterly revenue forecast, citing slowed production and weakened demand in China as a result of the coronavirus outbreak.

The most valuable company in the U.S. initially said it expected to report net sales between $63 billion to $67 billion in its fiscal second quarter. Apple has not provided an updated forecast for its fiscal second-quarter revenue on Monday.

Shares of Apple were little changed in pre-market trade.

The revenue warning appeared to dent market sentiment, as investors continue to assess the potential economic fallout of China’s fast-spreading coronavirus.

China’s National Health Commission on Tuesday reported an additional 98 deaths nationwide, with 1,886 new cases of the coronavirus. As of Feb. 17, the commission said there had been a total of 72,346 confirmed cases and 1,868 deaths.