Nike has dropped to lows unseen since November of 2020 as it faces a boycott in China over Xinjiang's cotton issues.
US stock indices go down by 2.2-2.3%
On Monday, American stock indices finished a sharp decline due to worse than expected data on the American labor market as well as the risks of introducing new duties on the import of goods from China.
Equities of all 30 firms that were presented in the calculation of the Dow Jones Industrial Average found themselves in the red zone. The overall market value of Boeing sank by nearly 1%, Caterpillar slumped by 1.7%.
As reported, the overall number of jobs in the American economy in March went up by 103 thousand, which appears to be the minimum rate since the autumn of 2017.
Meanwhile, the US President Donald Trump instructed to come up with a plan for the introduction of duties on Chinese exports worth $100 billion aside from previous measures. Earlier, the US authorities announced a plan to introduce a 25% duty on China’s exports for a total of about $50 billion a year.
The Chinese authorities responded by announcing their intention to impose duties on American export stuff for the same amount, reporting their readiness to go to the end literally at any cost to protect their trade interests.
The Dow Jones Industrial Average slumped by 2.34% demonstrating a reading of 23932.76.
As for Standard&Poor's 500, it headed south by approximately 2.19% coming up with 2604.47.
Nasdaq Composite inched down 2.28% ending up with 6915.11.
The shares of the software developer Salesforce.com headed south 2.5% after the company confirmed its intention to place bonds for $2.5 billion with the aim of financing the purchase of competitor Mulesoft for $6.5 billion.
The capitalization of Nvidia, which also manufactures microchips, went down by about 0.8%. By the way, Citron Research experts told they expect the company's shares to dive below $ 200 in the near future.
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.