Tag Archives: tumble

(Bloomberg) — Most Read from Bloomberg Saudi Arabian shares closed at the lowest level in about six months, leading declines in Middle East markets, following the global sell-off last week and oil’s plunge on Friday. The Tadawul All Share Index dropped 4.4% at close, with the index posting its longest losing streak since 2020. Aramco fell 4% to the lowest since March 15. Still, the state-controlled oil firm is the world’s biggest listed entity with a market value of $2.17 trillion compared… Source link

(Bloomberg) — Snap Inc. plunged 43%, posting its biggest-ever one-day drop and dragging down social media peers, after the company cut its revenue and profit forecasts, blaming the weaker economic outlook for a sudden slowdown of its advertising business. Most Read from Bloomberg “We continue to face rising inflation and interest rates, supply chain shortages and labor disruptions, platform policy changes, the impact of the war in Ukraine, and more,” Chief Executive Officer Evan Spiegel… Source link

The International Energy Forum called on world leaders Thursday to avoid supply disruptions that would only drive oil prices higher in the wake of Russia’s invasion of Ukraine.  “We urge producer and consumer countries to have a sensitive focus on energy market stability and prevent any disruption to supplies that could lead to further increased prices and heightened volatility,” Joseph McMonigle, secretary general of the International Energy Forum (IEF), said in a statement. The… Source link

COVID-19 is once again unsettling the public, causing restaurant workers and proprietors to invoke the same dreaded thought: “here we go again.” As the Omicron variant takes a toll on holiday gatherings, restaurant booking have seen a sharp decline, according to data from OpenTable. Restauranteur and tech innovator Bo Peabody — who serves as co-owner of New York-based Mezze Restaurant Group, and a board member of the Boqueria Restaurant Group — told Yahoo Finance Live that for New York,… Source link

‘Investors are now nervously eyeing October, and wondering perhaps if this could be the beginning of further weakness.’ Photo: Daniel Roland/AFP via Getty Images There was blood in the markets on Friday, as European stocks dragged lower after posting their first negative month since January. It came as Eurozone inflation hit its highest level in 13 years due to surging energy prices. According to Eurostat, headline inflation came in at 3.4% last month, the highest level since September 2008… Source link

Investors unnerved by the financial strains of a Chinese real estate firm sent cryptocurrencies reeling on Monday, with bitcoin (BTC-USD) tumbling by more than 7%. As risk-sensitive assets plunged, the leading digital coin shed over $3,000, changing hands just below $44,000 in midday trading. The moves were the latest signal that the world’s largest cryptocurrency hasn’t achieved the “safe haven” asset status that some of its more ardent proponents have promoted, even as debt levels… Source link

By Herbert Lash NEW YORK (Reuters) -Shares of Robinhood Markets Inc, a popular gateway for trading meme stocks, tumbled nearly 7% on Monday on news that PayPal Holdings Inc may start an online brokerage and a report saying regulators were looking at a possible ban on a practice that accounts for the bulk of the company’s revenue. Shares of Robinhood extended an early decline after CNBC reported that PayPal was exploring ways to let U.S. customers trade individual stocks on its… Source link

(Bloomberg) — A selloff in Chinese private education companies sent shockwaves through the equity market Monday, as investors scrambled to price in the growing risks from an intensifying crackdown by Beijing on some of the nation’s industries. Stocks slumped on the mainland and in Hong Kong, with the benchmark CSI 300 Index dropping 3.2% and the Hang Seng Index tumbling 4.1%, the most since May last year. Steep losses in education stocks in the wake of a sweeping overhaul spilled over into… Source link

By Andrew Galbraith SHANGHAI (Reuters) – China and Hong Kong shares fell sharply to their lowest this year on Monday, as investor worries over government regulations battered stocks in the education, property and tech sectors. The searing sell-off sent Hong Kong-listed Scholar Education Group shares crashing more than 45%. Hong Kong stocks of New Oriental Education & Technology Group Inc plummeted more than 47% after the company’s U.S. shares lost over half of their value on Friday. The… Source link

(Reuters) -Virgin Galactic Holdings Inc on Monday filed to sell up to $500 million in common stock, a day after the company completed its first fully crewed test flight into space with billionaire founder Richard Branson on board.    Shares in Virgin Galactic reversed premarket gains of 8% to trade down nearly 12%, wiping off more than $1 billion from the company’s market capitalization following the share sale announcement.    The sale would account for up to 4% of Virgin Galactic’s… Source link