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Apple, Amazon.com and Google parent Alphabet were among the biggest losers in the Nasdaq 100 Index on Monday.

As China is undergoing a consumption upgrade that is causing a boom in certain commodity sales, some edible oil companies are keen to transition from industrial suppliers to consumer-serving manufacturers.

Apple quietly came to Seattle a couple years ago, before making a big splash in 2016. When it acquired machine learning startup Turi for upwards of 0 million, Apple sent a signal that it had designs on basing a machine learning division here in Seattle. Naturally, that growth will probably require a lot more space, so Apple has been on the hunt all around the area, or it might just expand within its current building at Two Union Square.

Apple said Ive will continue work on its products at his new venture, but shares fell as much as 1.5% to 7.44 in after-market trading, wiping about billion from the firm's value.

Apple has been hit hard by supply chain disruptions caused by the coronavirus in China. The company rescinded its initial guidance for the second quarter in February after China extended the Lunar New Year holiday as part of the effort to reduce the spread of the coronavirus.