Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
European equities start lower as geopolitical tensions ascend
On Wednesday, European equities started lower because geopolitical tensions between America and North Korea grew, helping market participants once again to shift to safer assets.
The EURO STOXX 50 lost 0.28%, Germany’s DAX 30 declined 0.17% France’s CAC 40 dipped 0.28%.
Market sentiment dropped after on Tuesday a North Korean diplomat announced that North Korea was ready to deliver more surprises to America.
The threat arose after on Sunday the isolated nation conducted its sixth and greatest ever nuclear test, thus making US Defense Secretary James Mattis tell that any threat to America or its allies would be repelled with a huge military response.
Financial stocks generally declined because French lenders BNP Paribas along with Societe Generale inched down respectively 0.14% and 0.81%. At the same time Deutsche Bank tumbled 0.12% in Germany.
In Great Britain FTSE 100 slumped 0.45%, pressured by Barratt Developments, whose equities decreased 4.17%.
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 Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.