Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Asian equities go down
On Thursday, Asian equities went down, while government bonds managed to gain safe-haven demand in the face of strengthening investor worries that soaring trade tensions will affect the world’s economy.
Spreadbetters actually expected European shares to show better results at the start, with Britain's FTSE starting intact, Germany's DAX earning 0.3% and also France's CAC leaping 0.25%.
MSCI's index of Asia-Pacific equities inched down 0.13%.
The Asian markets were influenced by Wall Street equities that dived for the third straight trading session overnight right after Donald Trump was eager to impose fresh duties on China, thus driving worries a trade war.
Boeing Co, considered to be especially vulnerable to retaliation from American trade partners, headed south 2.5%, thus becoming the leading loser on the Dow.
Shanghai inched down 0.3%, Hong Kong's Hang Seng was intact, while Australian stocks dived 0.25%. Japan's Nikkei N225 managed to erased earlier losses, gaining 0.12%.
Besides this, the benchmark 10-year Treasury yield sank to 2.806%, demonstrating a fourth day of dives in the face of soaring diplomatic tension between Russia and the UK.
The probability of a trade conflict also spurred demand for European debt. The German 10-year bund yield hit 0.594% having dived to a 1-1/2-month minimum of 0.583%. Revenues on UK gilts as well as French government bonds headed south too.
Meanwhile, in the currency market, the evergreen buck was pressured having demonstrated a moderate bounce overnight after three days of losses.
The common currency soared 0.05% being worth $1.2373 having being pulled back from a six-day maximum of $1.2413 when on Wednesday, European Central Bank Governor Mario Draghi demonstrated rather a dovish tone on monetary policy.
As for the Japanese yen, it soared versus a variety of counterparts.
Versus the yen, the common currency dived 0.4% hitting 131.045 yen.
Chinese stocks were pressed by the US plans to kick them off US stock exchanges. Alibaba has already plunged by 4% in pre-market hours.
Bitcoin skyrocketed 5% after Tesla’s founder Elon Musk officially announced it will accept the cryptocurrencies as payment.
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!