Apple Inc. experienced a significant decline in its stock price, dropping 2.6% on January 2, marking its largest single-day drop since October 2024. This decline was part of a broader market downturn, with Apple's stock falling 6% over the last four days after hitting an all-time high just a week prior. The Dow Jones Industrial Average also fell by 250 points on January 2, marking its fourth consecutive day of declines, following three days of declines and influenced by a strong U.S. dollar and concerns over the pace of interest rate cuts by the Federal Reserve. The drop in Apple's stock was attributed to reports of the company initiating a rare sale in China, offering discounts on its latest iPhone models, which raised concerns about demand and profitability in the region. This event was part of a broader 'Magnificent 7 Meltdown,' where other major tech stocks also experienced significant declines.