The US authorities filed a lawsuit against Facebook - what are the implications?
Asian markets dive
On Wednesday, Asian markets headed south because American mid-term elections attracted much attention, as several networks, such as CNN, Fox, NBC, and FiveThirtyEight told that the Democrats had gained control of the House of Representatives, thus dividing Congress and boosting the party's ability to block Trump's economic and political agenda.
The Republicans were anticipated to gain a majority in the Senate, exactly as many experts had hoped for.
While a great number of analysts were afraid that a split in the Congress could provoke a sort of political gridlock in the US government, restricting Trump's ability to further pursue his expansive fiscal policy measures, but others drew attention to the fact that in general markets perform well under these circumstances.
The Shanghai Composite as well as the Shenzhen Component lost respectively 0.6% and 0.4% in China. The Hang Seng Index dived by 0.2% in Hong Kong.
Tech giant Tencent Holdings Ltd told it would slap an age limit on all of its online games by next year, notwithstanding the fact they’re already facing diving profits.
The company first imposed an age restriction on Honor of Kings, its popular game, having received a number of complaints from angry parents last year. Kids under the age of 18 won’t be able to play it more than two hours a day. Tencent recently came up with a real name registration system for its product and it’s currently testing its new facial recognition software.
In addition to this, Japan’s Nikkei headed south by 0.1%. The KOSPI index inched down by 0.2% in South Korea.
As for Australia’s S&P/ASX 200, it rallied by 0.4%.
Meanwhile, on Wednesday, online financial publication Moneylife informed that Reserve Bank of India chief Urjit Patel could step down at the major financial institution’s next board gathering on November 19.
Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
Have you seen the Tesla stock price? But it has already dropped from that high... will it move up again?
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.