Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
European stocks dive
On Monday, European stock markets sank after the open, as the greenback remained on the back foot and crude prices kept moving south, applying pressure on sentiment.
Market participants also mulled headlines out of the G20 finance ministers gathering in Germany at the weekend in order to assess the overall potential impact that trade barriers could have on the global surge.
The EURO STOXX 50 declined 0.1%, France’s CAC 40 lost 0.3%, Germany’s DAX 30 went down 0.3%. Additionally, the FTSE100 edged down 0.2% in London.
Earlier, in Asia, financial markets concluded mixed, with the Shanghai Composite in China ending up about +0.4%, while Japan's Nikkei remained unavailable for a public holiday.
The greenback extended its losses to a fourth trading session, staying on track for its longest losing streak since early November in wake of the Fed’s dovish guidance on the path of rate lifts in 2017.
As for early movers, Deutsche Bank stocks slid approximately 2% in Frankfurt after the German lender reported that it was issuing 687.5 million new stocks in order to raise $8.6 billion.
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!