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Analysts noted that investors have valid reasons to be concerned about the U.S. economy.

And that’s a problem, Apple argues, because Amazon’s “inferior service” will then damage Apple’s brand in the minds of those consumers.

Analysts said the big fall is the market response toward the meeting convened by the Political Bureau of the Communist Party of China Central Committee on Monday, which said it would resolutely solve the irregularities in the property market, apply policies in accordance to local conditions, seek a supply and demand balance, and accelerate the establishment of a long-term and effective system for promoting the healthy and stable development of the real estate market.

Analysts attributed the move to alleviated pressure on fund supply in the money market.

Analysed by major GDP component, private consumption expenditure decreased by 3.5 percent in real terms in the third quarter from a year earlier, recording its first year-on-year decline in more than 10 years.