Shares slid while the dollar and Treasuries advanced as growing unrest in China over Covid restrictions sent a shiver through global markets. Chinese equities led the share-market declines, with weakness also evident in Australia, Japan and South Korea. US futures dropped as modest customer traffic and heavy discounting by American retailers on Black Friday added to the downbeat tone. The greenback strengthened on haven demand, showing notable gains against the currencies of Australia and South Africa, both of which are exposed to trade with China. The onshore yuan dropped as much as 1% before trimming its loses. Oil fell as developments in China hurt appetite for risk and the outlook for demand, adding to stresses in an already-fragile global market. West Texas Intermediate Crude slid to the lowest level since 2021. Gold edged lower as the dollar strengthened, placing downward pressure on the precious metal. The downbeat mood emanating from China contrasts with the boost to sentiment in global markets last week after the Federal Reserve’s Nov. 1-2 meeting minutes showed most officials backing slowing the pace of interest-rate hikes. Since the Fed’s latest meeting, investors have parsed a bevy of economic data that somewhat eased inflation concerns, further strengthening the case for smaller rate hikes. The S&P 500 notched a weekly gain of 1.5% that took the index to the highest level since early September. The Nasdaq 100 also eked out a gain for the week. All eyes will be on the US jobs report this week and on Fed Chair Jerome Powell and New York Fed President John Williams, who are among central bank officials scheduled to speak.
Nikkei -0.54% Hang Seng -2.38% CSI -1.93% Shanghai -1.41% Shenzen -1.11%
Eur$ -0.42% CNH 7.2285 CNY 7.2107 JPY 138.39 GBP 1.2048 CHF 0.9468 RUB 60.74 TRY 18.6258 WTI$ 73.94 -3.07% Gold 1,750 -0.32% BTC 16,155 -2.51% ETH 1,168 -3.89%
S&P -0.60% Nasdaq -0.79% EuroStoxx -0.50% FTSE -0.45% Dax -0.48% SMI -0.15%
Macro :
- Commodity Currencies Weaken as China’s Covid Unrest Hits Mood
- FTX Chaos Prompts Reckoning on Dubai’s Embrace of Crypto Giants
- Backlog of U.S. Arms Deliveries to Taiwan Nears $19 Billion -- WSJ
- Oil Eyes $70 Floor in Slow-Growth Case Where US Reserves Rebuild
Keep an eye on :
- ABBN SW : ABB Nears Deal to Resolve Third U.S. Bribery Case Against Company -- WSJ
- ADS GY : Kanye West Wanted as Much as $3 Billion in Adidas Stock During Negotiations, Sources Say -- WSJ
- ADJ GY : Adler Agrees on ‘Expensive, Complex’ Debt Deal With Bondholders
- AIR FP : Airbus Prepares to Delay 2023 Deliveries of Some Aircraft: Rtrs
- AAPL US : Foxconn Offers $1,800 Bonus to Workers Who Stay in IPhone City
- ARYN SW : Aryzta 1Q Revenue EU509.1M
- BNR GY : Brenntag Confirms Early Talks to Acquire US Rival Univar
- BNR GY : Brenntag-Univar Combination Would Be Logical Step: Street Wrap
- BPT LN : Bridgepoint Eyes 75% Stake in English Cricket Competition: Sky
- CO FP : Casino Starts Process to Sell Up to $677M Assaí Stake
- C3RY GY : Cherry AG Picks Oliver Kaltner to Succeed Unterberger as Chair
- CINE LN : ‘Knives Out 2’ Pulls in $13.3 Million for Netflix in Cinema Test
- DB1 GY : Global Exchanges May Yet Seek Bolt-On M&A for Strategic Merits
- DMYDB SS : Diamyd Medical’s Phase 3 Diabetes Trial Approved to Start in US
- FINGB SS : Fingerprint Cards to Receive SEK305m From Rights Issue
- FORN SW : Forbo Group CEO Michael Schumacher to Leave Co. Nov. 30
- IREN IM : Iren & Ascopiave Modify Pact on Gas Distribution Concessions
- LSEG LN : Global Exchanges May Yet Seek Bolt-On M&A for Strategic Merits
- MC FP : LVMH to Buy Pedemonte to Boost Jewelry Production Capacity
- MANU US : Manchester United’s Price Tag May Set ‘Landmark’ for Football
- MEL SM : *MELIA CEO TO RECOMMEND BOARD NOT TO PAY DIVIDEND AGAINST 2022
- NOVN SW : Novartis Granted FDA Orphan Drug Status for Ribociclib
- SU FP : Meituan, Schneider Electric in Latest BI Analyst Reaction
- SDRY LN : Elliott-Backed Fund to Bankroll Rescue of Superdry: Telegraph
- SHEL LN : Shell Said to Be Selling Stakes in UK North Sea Oil Fields
- SPI AV : S Immo 9M Net Income EU98.9M Vs. EU159.9M Y/y
- TIT IM : Italy State Lender May Delay Telecom Italia’s Grid Bid: Corriere
- VIFN SW : *FERINJECT APPROVED IN CHINA FOR TREATMENT OF IRON DEFICIENCY
- WDP BB : WDP Places €440M Syndicated 7-Year Bullet Loan Maturing in 2030
- XOM US : Exxon Mobil Has a Potash Problem in the Permian Basin -- WSJ
- YU/ LN : Yu Group Sees Earnings Significantly Ahead of Market Views