Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
Asian equities sink, yen strengthens as Korean tensions rise
On Tuesday, Asian stocks dipped and the Japanese yen strengthened versus the backdrop of ascending tensions on the Korean Peninsula. Market participants waited for new signals about the American monetary policy outlook.
MSCI's index of Asia-Pacific equities slumped 0.3%, reacting to tech-focused dips on Wall Street.
Fed Chair Janet Yellen is expected to deliver a speech on further prospects for surge. Market participants are going to parse her words for signs on whether the US number one financial institution will dare to stick to its initiative to lift interest rates in December or not.
On Monday, North Korea's foreign minister stressed that Trump’s weekend tweet should be regarded as a direct declaration of war on North Korea and his country has the right to take a bunch of countermeasures, including shooting down American bombers even if required.
Japan's Nikkei stock index inched down 0.4%, suppressed by a stronger 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.
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
As the earnings season kicks in, JPMorgan is the first to impress us with the better-than-expected data!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.