Apple shares dip following cautious guidance ahead of Christmas. The company also reveals little about demand for its new iPhone 16. Amazon posts a beat on quarterly earnings causing shares to pop in extended trade. The e-commerce giant’s CEO Andy Jassy pledges to significantly ramp up spending on the company’s A.I. technologies. On Wall Street the S&P 500 and the Nasdaq suffer their worst day in more than a month following disappointing Big Tech results. And in the UK, the gilt sell-off increases and sterling endures a volatile session as investors fear Chancellor Rachel Reeves’ budget could force inflation back up while piling up debt.

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