AAPL dove 7.55% in after hours once the news hit, so a large gap down is very likely. Some skepticism was definitely baked in, but this is a very unusual move (no pre quarter warnings since 2002!).
All big tech joined in the selling as well so something like QQQ is going to be hit a lot harder than the S&P (QQQ down over 2% in AH).
Yes, the large gap down is a given, since 7.5% was already in after-hours. I guess I was thinking more long-term overall dive than daily. The markets have been pretty volatile for the past month or so. It's odd but a one day 500+ Dow drop isn't really unusual at this point.
Another thing is that yesterday made a triple top on ESH19 at ~2520 on the daily timeframe after all the pension buying last week of dec, so the recent run on equity indices were already facing some pretty stiff resistance.
All big tech joined in the selling as well so something like QQQ is going to be hit a lot harder than the S&P (QQQ down over 2% in AH).