Apple selloff deepens to $200 billion on China iPhone curbs

Apple Inc. shares tumbled on Thursday, on track to wipe out $200 billion of market value in just two days, as China plans to expand a ban on the use of iPhones to government-backed agencies and state companies.

Shares of the Cupertino, California-based company fell as much as 5.1%, bringing its two-day slump to 6.8%. Apple is the biggest component in major US equity indexes, adding to a broader selloff sparked in part by a litany of woes in China.