Apple shares drop by 3% with the announcement of Steve Job’s departure from the company as CEO.

Steve Jobs‘s resignation as Apple chief executive has wiped billions of dollars off its stock market value as traders fret over the company’s long-term future without its visionary leader.

The news of Jobs’s departure sent Apple shares falling nearly 3% at the start of trading on Wall Street, knocking around $10bn (£6.1bn) off the company’s value. The fall was slightly better than the 5% decline predicted before trading began, and meant Apple shares were changing hands for $365 each. They rose above $370 by late morning and were trading just 0.6% down in mid-afternoon. Graeme Wearden/The Guardian.

Image by Erik Pitti via Flickr.

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