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Artificial intelligence will give a net boost to employment in China, free humans from some tedious tasks, and bring about significant changes in traditional sectors such as finance, healthcare, transportation and education, according to industry insiders and business leaders.

Armed police rescue villagers besieged by floods in Quanzhou county of Guilin, Guangxi Zhuang autonomous region, on Sunday. WANG ZICHUANG/FOR CHINA DAILY

Argentina's capital needs to intensify its efforts to avoid overwhelming the healthcare system, something it has so far managed to do, he said.

Apple Inc has said the moves could hit a "wide range" of its products. The iPhone maker's shares were down 1.8 percent, providing the biggest drag on the Dow. The stock pared its losses following reports that the United States would spare some of its products in the latest round of tariff actions.

Apple Inc's smartphone shipments in the Chinese market plummeted about 20 percent during this period, taking up 11.5 percent of the market share. Weakening demand, lengthening replacement times and iPhone's hefty price contributed to Apple's decline in China, according to IDC.