(Bloomberg) -- U.S. stock-index futures tumbled and Asian stocks looked set to decline after Apple Inc. added to global growth concerns by cutting its guidance. The yen surged as investors flocked to safe havens.

Apple suppliers will come under pressure after the iPhone maker cut its first-quarter guidance citing an unforeseen slowdown in China and fewer upgrades to iPhone models. Apple shares tumbled and suppliers including Skyworks Solutions Inc. and Broadcom Inc. were dragged lower in post-market trading. The wildest moves were in currency markets where the yen jumped at one point to the the highest since March last year, while the Australian dollar touched its lowest since 2009. Oil pared a rally on the back of Saudi Arabia trimming exports.

Australian shares gained at the open as oil producers rallied after a report that Saudi Arabia lowered oil exports, fueling a surge in the price of crude and lifting U.S. energy shares. Treasuries advanced and won’t trade in Asia Thursday as Japanese markets are shut.

Earlier, U.S. equities started the day lower on poor sentiment sparked by a weak reading on Chinese manufacturing, though rebounded to eke out gains at the close. While President Donald Trump sounded positive tunes about reaching a trade deal with his counterpart Xi Jinping over the weekend, the Chinese data are a stark example to investors that the protectionist showdown is starting to have an impact on economic activity.

Elsewhere, the Australian dollar fell below 70 U.S. cents for the first time since 2016 and accelerated a decline after Apple trimmed its sales forecast.

To read more on our markets coverage see the Markets Live blog.

Here are some events investors may focus on in coming days:

• The U.S. December jobs report is due Friday
• Fed Chair Powell is interviewed with predecessors Janet Yellen and Ben Bernanke at the annual meeting of the American Economic Association Friday. Atlanta Fed President Raphael Bostic joins a panel on long-run macroeconomic performance.

And these are the main moves in markets Wednesday:

Stocks

• Australia’s S&P/ASX 200 Index rose 0.9 percent.
• Futures on Hong Kong’s Hang Seng Index rose 1.3 percent.
• S&P 500 futures dropped 1.2 percent. The S&P 500 rose 0.1 percent.

Currencies

• The yen gained 1.6 percent to 107.14 per dollar.
• The offshore yuan was stable at 6.8851 per dollar.
• The Bloomberg Dollar Spot Index climbed 0.3 percent Wednesday.
• The euro was at $1.1346.
• The British pound traded at $1.2539, down 0.5 percent.

Bonds

• The yield on 10-year Treasuries fell six basis points to 2.62 percent.

Commodities

• West Texas Intermediate crude fell 1 percent to $46.10 a barrel, trimming a 2.5 percent advance.
• Gold futures rose 0.4 percent to $1,289.27 an ounce.

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