Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
European equities are on back foot
On Monday, European equities slumped because market participants took a cautious view of the approaching coalition tussle in Germany, reacting to elections in which Chancellor Angela Merkel managed to grasp a fourth term, although ended up seeing her party weakened by an ascend in support for the far-right.
Financial market demonstrated rather a muted reaction to currencies. The common currency took a hit, although the vast majority of regional benchmarks were intact to lower as traders took the view that a coalition government in Germany could confound some expectations for firmer euro zone integration going forward.
The STOXX 600 was nearly intact, while euro zone blue chips slumped 0.1%. In Germany, DAX went down 0.1%.
In Spain, IBEX kept lagging its counterparts, and it lost 0.6% in early trades. Apparently, the surging political crisis in Spain over Catalonia's shocking campaign for independence heavily affected equities.
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.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!