People walk near an Apple logo outside its store in Shanghai, China September 8, 2023. The stock appeared to stabilize in out-of-hours trade on Friday and Morgan Stanley analysts claimed China's iPhone bans would at most hit Apple revenues by about 4%. The upshot was the rates market calmed a bit - with the odds on another Fed hike in the cycle falling back below 50% despite the red hot jobless claims readout. That helped Treasury yields <US10YT+RR> fall back too, aided by the stock market wobble and an oil price coming off the boil. The stock exchange there halted trading in both securities and derivatives markets due to a black rainstorm warning.

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Persons: Aly, Mike Dolan, Apple sideswipe, Morgan Stanley, We've, John Williams, Austan Goolsbee, Lorie Logan, Michael Barr, Mary Daly, Andrew Cawthorne Organizations: Apple, REUTERS, Federal, Huawei, New, Fed, Chicago Fed, Dallas Fed, San Francisco Fed, Kroger Reuters Graphics Reuters, Reuters, Thomson Locations: Shanghai, China, U.S, India, Asia, Hong Kong, United States, New Delhi