In the fast-paced arena of global economics, sometimes all it takes is a pair of sneakers to tell a compelling story.&nbsp;

Nike, the iconic sportswear brand synonymous with innovation and style, is currently experiencing a rather uncharacteristic stumble in the stock market. As its shares have taken a downhill route for ten consecutive days, observers are left pondering: what's really at the core of this downward sprint?

The recent dip in Nike's stock price has set a record as the longest losing streak since the company's inception as a public entity in 1980. This is no minor jog; it's a marathon of red numbers, leaving investors and financial analysts to question the driving forces behind this downhill run.

At first glance, it might seem that Nike's prowess as a retail giant should keep it comfortably in the lead. Yet, beneath the surface, there's an intricate tale of economic currents at play.&nbsp;

The footwear business, Nike's cornerstone, is feeling the pressure from multiple angles. Notably, consumers, particularly the millennial cohort, are reallocating their spending habits. The pandemic has reshaped priorities, diverting dollars from goods to services and experiences. As students prepare to resume their loan payments, budget-conscious choices are in the air, leading to a shuffle in spending preferences.

This evolving landscape is prompting companies to recalibrate their strategies, adapting to a consumer base that's now more judicious with discretionary funds.

But it's not just American trails that Nike must navigate. China, a significant piece of its puzzle, is throwing its own curveballs. The company's substantial presence in the Chinese market positions it to benefit from the nation's economic vigor. However, the uneven recovery in China raises caution flags. As the country's economy stutters, Nike's earnings could take a hit. With a third of its business rooted in China, this variable deserves more than a passing glance.

As we await Nike's next earnings report, the global economy's trajectory remains uncertain. So, let's keep an eye on this marathon, and remember that in the realm of finance, it's not just about running – it's about understanding the rhythm of the race.

In the fast-paced arena of global economics, sometimes all it takes is a pair of sneakers to tell a compelling story. Nike, the iconic sportswear brand synonymous with innovation and style, is currently experiencing a rather uncharacteristic stumble in the stock market.

In the fast-paced arena of global economics, sometimes all it takes is a pair of sneakers to tell a compelling story. Nike, the iconic sportswear brand synonymous with innovation and style, is currently experiencing a rather uncharacteristic stumble in the stock market. As its shares have taken a downhill route for ten consecutive days, observers are left pondering: what's really at the core of this downward sprint? The recent dip in Nike's stock price has set a record as the longest losing streak since the company's inception as a public entity in 1980. This is no minor jog; it's a marathon of red numbers, leaving investors and financial analysts to question the driving forces behind this downhill run. At first glance, it might seem that Nike's prowess as a retail giant should keep it comfortably in the lead. Yet, beneath the surface, there's an intricate tale of economic currents at play. The footwear business, Nike's cornerstone, is feeling the pressure from multiple angles. Notably, consumers, particularly the millennial cohort, are reallocating their spending habits. The pandemic has reshaped priorities, diverting dollars from goods to services and experiences. As students prepare to resume their loan payments, budget-conscious choices are in the air, leading to a shuffle in spending preferences. This evolving landscape is prompting companies to recalibrate their strategies, adapting to a consumer base that's now more judicious with discretionary funds. But it's not just American trails that Nike must navigate. China, a significant piece of its puzzle, is throwing its own curveballs. The company's substantial presence in the Chinese market positions it to benefit from the nation's economic vigor. However, the uneven recovery in China raises caution flags. As the country's economy stutters, Nike's earnings could take a hit. With a third of its business rooted in China, this variable deserves more than a passing glance. As we await Nike's next earnings report, the global economy's trajectory remains uncertain. So, let's keep an eye on this marathon, and remember that in the realm of finance, it's not just about running – it's about understanding the rhythm of the race.

Decoded: What Nike's stock slump says about the global economy

ChatGPT is the hip thing&nbsp;these days, and keeps generating&nbsp;awe on how amazing can be its&nbsp; use&nbsp;in different fields and the difference it brings to work output and applications. The artificial intelligence-powered blockbuster chatbot can answer questions, seduce lonely humans and even write complex computer codes. ChatGPT single-handedly ushered in huge&nbsp;appreciation (and fear!) of artificial intelligence in popular imagination. It appeared that human intelligence was soon to be obsolete. Jobs would be lost and machines would take over. In sharp contrast to all the praise, now a dog has defeated ChatGPT when&nbsp;both were asked to select shares that would be profitable. The shares selected by ChatGPT yielded 3.5 per cent profit while those selected by the dog registered a profit of a whopping 13.5 per cent. The Times reported about this experiment.

The fun exercise was reportedly carried out in Germany. Details of the experiment are available in the German magazine WirtschaftsWoche.

No worries if you don't know German. Because if you want to know more about this, read on.

Freddy, an eight-year-old dog selected some shares by 'gravitating towards treats laid out on slips of paper'.

Both Freddy and ChatGPT were given a notional amount of 19,000 euros and were asked to pick shares.

ChatGPT does not give specific suggestions for investment, but it reportedly volunteered to assemble a “diversified portfolio of stocks [in firms] that demonstrate solid accounts, have growing sales, remain profitable and have a high market capitalisation”.

The chatbot selected a relatively modest portfolio. The portfolio had&nbsp;shares from tech companies like Apple and Amazon along with successful consumer focussed businesses like McDonald's and Coca-Cola.

The portfolio yielded a return of 3.5 per cent.

Over to Freddy.

The 'Warren Wooffett' selected shares from energy, AI and tech hardware companies. The dog also chose Nvidia, a high-end chipmaker.

The portfolio reportedly earned a profit of 13.5 per cent.

<h3>So what does this mean?</h3>

Financial theorists have wondered since the 19th century whether trading in shares needs specific expertise or it is just a matter of chance.

The Times reported that in tests in which schoolchildren and animals were asked to select shares by throwing darts at a wall, it was found that the shares that were 'selected' outperformed those chosen by financial analysts.

Also Read | <a href="https://www.wionews.com/science/astronomers-discover-most-reflective-planet-thats-like-a-mirror-614007">Astronomers discover most reflective planet that's 'like a mirror'</a>

The Chicago Sun-Times reportedly hired a monkey as its star investment columnist in the 2000s. The monkey chose stocks by circling items with a red felt-tip pen. This, says The Times, beat financial analysts more often than not.

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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ChatGPT is the hip thing these days, and keeps generating awe on how amazing can be its use in different fields and the difference it brings to work output and applications.

ChatGPT is the hip thing these days, and keeps generating awe on how amazing can be its use in different fields and the difference it brings to work output and applications. The artificial intelligence-powered blockbuster chatbot can answer questions, seduce lonely humans and even write complex computer codes. ChatGPT single-handedly ushered in huge appreciation (and fear!) of artificial intelligence in popular imagination. It appeared that human intelligence was soon to be obsolete. Jobs would be lost and machines would take over. In sharp contrast to all the praise, now a dog has defeated ChatGPT when both were asked to select shares that would be profitable. The shares selected by ChatGPT yielded 3.5 per cent profit while those selected by the dog registered a profit of a whopping 13.5 per cent. The Times reported about this experiment. The fun exercise was reportedly carried out in Germany. Details of the experiment are available in the German magazine WirtschaftsWoche. No worries if you don't know German. Because if you want to know more about this, read on. Freddy, an eight-year-old dog selected some shares by 'gravitating towards treats laid out on slips of paper'. Both Freddy and ChatGPT were given a notional amount of 19,000 euros and were asked to pick shares. ChatGPT does not give specific suggestions for investment, but it reportedly volunteered to assemble a “diversified portfolio of stocks [in firms] that demonstrate solid accounts, have growing sales, remain profitable and have a high market capitalisation”. The chatbot selected a relatively modest portfolio. The portfolio had shares from tech companies like Apple and Amazon along with successful consumer focussed businesses like McDonald's and Coca-Cola. The portfolio yielded a return of 3.5 per cent. Over to Freddy. The 'Warren Wooffett' selected shares from energy, AI and tech hardware companies. The dog also chose Nvidia, a high-end chipmaker. The portfolio reportedly earned a profit of 13.5 per cent. So what does this mean? Financial theorists have wondered since the 19th century whether trading in shares needs specific expertise or it is just a matter of chance. The Times reported that in tests in which schoolchildren and animals were asked to select shares by throwing darts at a wall, it was found that the shares that were 'selected' outperformed those chosen by financial analysts. Also Read | Astronomers discover most reflective planet that's 'like a mirror' The Chicago Sun-Times reportedly hired a monkey as its star investment columnist in the 2000s. The monkey chose stocks by circling items with a red felt-tip pen. This, says The Times, beat financial analysts more often than not. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

'Warren Wooffett': Dog defeats ChatGPT in contest to select profitable shares

Is it the right time to invest in the Indian stock market? How is the market doing and what is expected to happen with all the country’s developments worldwide? Vikram Chandra speaks with two of the biggest voices of the Indian stock market, Ramesh Damani and Raamdeo Agrawal on The India Story tonight.

Raamdeo Agrawal, Oswal Group Chairman, says 'Despite muted earnings markets doing well'| India Story

Market expert Ramesh Damani says, 'Bull market, truly underway now' | The India Story

The US-listed shares of Canadian fintech company Nuvei slipped 2 percent on Tuesday after New York-based investment management firm Spruce Point Capital Management published a negative report on the Montreal-based company, a Bloomberg report said. &nbsp;

Spruce Point revealed that it held a short position on the company and urged investors to sell their shares in the company.

Short position or short-selling refers to a stock market investment in which investor will profit if the value of a company's share falls.

After the report became public, Nuvei shares tumbled about 6 percent early on Tuesday but pared losses towards the end of the day.&nbsp;

In the report, the New York-based firm accused Nuvei of acquiring a US company that had exaggerated its growth.&nbsp;Paya Holdings, a US-based&nbsp;payments solutions company,&nbsp;was&nbsp;bought for $1.3 billion in January 2023. Spruce Point alleged in its report that the acquisition&nbsp;"appears troubled" as Paya was losing market share before the takeover.

Spruce Point, a well-known short seller in the US stock markets, also alleged that Nuvei may have an equity interest in bankrupt crypto exchange FTX and failed to disclose its total crypto and digital exposure.

"Our analysis suggests that Nuvei's underlying economics are deteriorating and that it is heavily reliant on buoying its stock price as a tool to attract, retain and compensate employees. We believe the current sell-side analysts fail to incorporate our concerns with the Paya acquisition and assume Nuvei will be successful despite its documented recent history of failing to extract value from acquisitions," the short-seller said in its report.&nbsp;

The short-seller said&nbsp;that it expects&nbsp;Nuvei's stocks to decline in total value this year. adding that it faces a 35-50 percent long-term downside risk. Interestingly, shares of Nuvei are up almost 60 percent this year.

Second report in less than 2 years

Spruce Point's report came just days after Hollywood actor Ryan Reynolds announced that he has invested an undisclosed amount in the fintech company.&nbsp;

“Nuvei is impressive. The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do," a press release quoted Reynolds as saying. &nbsp;

This is the second time in less than two years that Spruce Point has released a report on the Montreal-based company, which offers payment services for several industries.

In December 2021, the US investment management firm had noted that the fintech company faced “40 to 60 percent long-term downside risk.”

The 2021 report also highlighted a number of alleged shortcomings in Nuvei’s business, including wrong top management hirings and poor financial performance.&nbsp;

&nbsp;

The US-listed shares of Canadian fintech company Nuvei slipped 2 percent on Tuesday after New York-based investment management firm Spruce Point Capital Management published a negative report on the Montreal-based company, a Bloomberg report said.

The US-listed shares of Canadian fintech company Nuvei slipped 2 percent on Tuesday after New York-based investment management firm Spruce Point Capital Management published a negative report on the Montreal-based company, a Bloomberg report said. Spruce Point revealed that it held a short position on the company and urged investors to sell their shares in the company. Short position or short-selling refers to a stock market investment in which investor will profit if the value of a company's share falls. After the report became public, Nuvei shares tumbled about 6 percent early on Tuesday but pared losses towards the end of the day. In the report, the New York-based firm accused Nuvei of acquiring a US company that had exaggerated its growth. Paya Holdings, a US-based payments solutions company, was bought for $1.3 billion in January 2023. Spruce Point alleged in its report that the acquisition "appears troubled" as Paya was losing market share before the takeover. Spruce Point, a well-known short seller in the US stock markets, also alleged that Nuvei may have an equity interest in bankrupt crypto exchange FTX and failed to disclose its total crypto and digital exposure. "Our analysis suggests that Nuvei's underlying economics are deteriorating and that it is heavily reliant on buoying its stock price as a tool to attract, retain and compensate employees. We believe the current sell-side analysts fail to incorporate our concerns with the Paya acquisition and assume Nuvei will be successful despite its documented recent history of failing to extract value from acquisitions," the short-seller said in its report. The short-seller said that it expects Nuvei's stocks to decline in total value this year. adding that it faces a 35-50 percent long-term downside risk. Interestingly, shares of Nuvei are up almost 60 percent this year. Second report in less than 2 years Spruce Point's report came just days after Hollywood actor Ryan Reynolds announced that he has invested an undisclosed amount in the fintech company. “Nuvei is impressive. The leadership team is exceedingly intelligent and hard-working and it’s about time a Canadian company got the type of attention American tech companies do," a press release quoted Reynolds as saying. This is the second time in less than two years that Spruce Point has released a report on the Montreal-based company, which offers payment services for several industries. In December 2021, the US investment management firm had noted that the fintech company faced “40 to 60 percent long-term downside risk.” The 2021 report also highlighted a number of alleged shortcomings in Nuvei’s business, including wrong top management hirings and poor financial performance.

Canadian fintech firm Nuvei's shares fall after short-seller report

Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent&nbsp;on Monday (April 10).

The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat.

Tupperware claimed that if it doesn't obtain extra funding, company won't have enough cash to support its operations. According to the corporation, it is looking into possible layoffs and assessing its real estate holdings for potential cost-saving measures.

The New York Stock Exchange also issued a warning that Tupperware's stock may be delisted for failing to submit the necessary annual report, reported CNN.

“Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” CEO Miguel Fernandez said in a press release. “The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.”

ALSO READ |&nbsp;<a href="https://www.wionews.com/world/fall-of-credit-suisse-not-a-fall-of-switzerland-says-president-581388">Fall of Credit Suisse not a fall of Switzerland, says president</a>

The 77-year-old company has had difficulty staying competitive with rivals in recent years. With newer and trendier products, it has been attempting to shed its stuffy reputation and draw in new customers. It also reached a sales agreement with Target last year.

Neil Saunders, retail analyst and managing director at GlobalData Retail who spoke to CNN,&nbsp;claims that Tupperware is suffering from a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers."

“The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge,” he said.

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/a-year-after-crisis-sri-lanka-grants-3-foreign-oil-companies-to-sell-fuel-581267">A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel</a>

The move into Target, according to Tupperware (TUP), is a part of the brand's reinvention, which also includes efforts to expand through various retail channels and expose its products to younger consumers who have never even heard of Tupperware (TUP) parties.

However, that hasn't worked out so far because shares have fallen 90 per cent&nbsp;in the last year. In November, it again issued a "going concern" alert.

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Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent on Monday (April 10). The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat.

Following a grim warning that its future is looking fuzzy, Tupperware's stock plunged by close to 50 per cent on Monday (April 10). The container manufacturer said there is "substantial doubt" about the company's capacity to continue as a going concern in a regulatory filing late Friday and that it is working with financial advisers to find financing to stay afloat. Tupperware claimed that if it doesn't obtain extra funding, company won't have enough cash to support its operations. According to the corporation, it is looking into possible layoffs and assessing its real estate holdings for potential cost-saving measures. The New York Stock Exchange also issued a warning that Tupperware's stock may be delisted for failing to submit the necessary annual report, reported CNN. “Tupperware has embarked on a journey to turn around our operations and today marks a critical step in addressing our capital and liquidity position,” CEO Miguel Fernandez said in a press release. “The company is doing everything in its power to mitigate the impacts of recent events, and we are taking immediate action to seek additional financing and address our financial position.” ALSO READ | Fall of Credit Suisse not a fall of Switzerland, says president The 77-year-old company has had difficulty staying competitive with rivals in recent years. With newer and trendier products, it has been attempting to shed its stuffy reputation and draw in new customers. It also reached a sales agreement with Target last year. Neil Saunders, retail analyst and managing director at GlobalData Retail who spoke to CNN, claims that Tupperware is suffering from a "sharp decline in the number of sellers, a consumer pullback on home products, and a brand that still does not fully connect with younger consumers." “The company used to be a hotbed of innovation with problem-solving kitchen gadgets, but it has really lost its edge,” he said. ALSO READ | A year after crisis, Sri Lanka allows 3 foreign oil companies to sell fuel The move into Target, according to Tupperware (TUP), is a part of the brand's reinvention, which also includes efforts to expand through various retail channels and expose its products to younger consumers who have never even heard of Tupperware (TUP) parties. However, that hasn't worked out so far because shares have fallen 90 per cent in the last year. In November, it again issued a "going concern" alert. WATCH WION LIVE HERE:

Tupperware in trouble? Company stock dips after warning it may go out of business

Indian actor Arshad Warsi and 45 others have been barred by&nbsp;the Securities and Exchange Board of India (SEBI)&nbsp;from taking part in the securities market. The decision&nbsp;was made following an examination into claims that two firms, Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd., through certain entities, had manipulated share prices by posting misleading videos on YouTube channels, as per reports.

The Indian stock market watchdog discovered that certain people uploaded videos containing false and misleading advice for investors to purchase shares of Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd. in order to make extraordinary profits.

In addition to the ban, SEBI has confiscated illegal earnings totaling Rs 54 crore that the organisations made as a result of deceptive videos that were published on YouTube channels. The results of the inquiry are described in two distinct interim orders.

Once SEBI received complaints stating that some entities were manipulating prices and selling shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd., an inquiry was launched

Until further orders, SEBI has prohibited the 45 firms from "buying, selling, or dealing in securities either directly or indirectly, in any manner whatsoever." Furthermore, until the seized funds are put in the escrow account, the firms have been instructed not to part with any assets, including cash in bank accounts, without first obtaining SEBI's consent. 
 
(With inputs from agencies)

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Indian actor Arshad Warsi and 45 others have been barred by the Securities and Exchange Board of India (SEBI) from taking part in the securities market. The decision was made following an examination into claims that two firms, Sharpline Broadcast Ltd.

Indian actor Arshad Warsi and 45 others have been barred by the Securities and Exchange Board of India (SEBI) from taking part in the securities market. The decision was made following an examination into claims that two firms, Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd., through certain entities, had manipulated share prices by posting misleading videos on YouTube channels, as per reports. The Indian stock market watchdog discovered that certain people uploaded videos containing false and misleading advice for investors to purchase shares of Sharpline Broadcast Ltd. and Sadhna Broadcast Ltd. in order to make extraordinary profits. In addition to the ban, SEBI has confiscated illegal earnings totaling Rs 54 crore that the organisations made as a result of deceptive videos that were published on YouTube channels. The results of the inquiry are described in two distinct interim orders. Once SEBI received complaints stating that some entities were manipulating prices and selling shares of Sadhna Broadcast Ltd. and Sharpline Broadcast Ltd., an inquiry was launched Until further orders, SEBI has prohibited the 45 firms from "buying, selling, or dealing in securities either directly or indirectly, in any manner whatsoever." Furthermore, until the seized funds are put in the escrow account, the firms have been instructed not to part with any assets, including cash in bank accounts, without first obtaining SEBI's consent. (With inputs from agencies) WATCH WION LIVE HERE:

Arshad Warsi, wife banned from India stock market by SEBI over YouTube fraud

CEO Elon Musk has said that&nbsp;he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall&nbsp;nearly half of its value since Musk’s takeover&nbsp;of Twitter.

“I’m not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn’t sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year.

Musk&nbsp;dumped&nbsp;$2.58 billion&nbsp;worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started gaining ground in Twitter.&nbsp;Over the past two months, Musk has spearheaded a dizzying array of changes that have upset advertisers and alienated users. He laid off half of his staff, took moderators out of contract, and dissolved the Trust and Safety Advisors Council. He stopped enforcing his COVID-19 misinformation rule and filed criminal charges against Dr. Anthony Fauci, an infectious disease expert in the United States.

Also read |&nbsp;<a href="https://www.wionews.com/world/worlds-most-subscribed-youtuber-mr-beast-offers-to-be-twitter-ceo-elon-musk-responds-545829">World's most-subscribed YouTuber Mr Beast offers to be Twitter CEO. Elon Musk responds</a>

Tesla investors are fed up with the 24/7 Twitter clamor. The eccentric CEO is distracted from his main source of wealth, the electric car company, they say. 
Tesla's market cap surpassed $1.1 trillion on April 1st. This was the last trading day before Musk announced that he would buy his Twitter stake. Since then, the company has lost almost two-thirds of its value as rival automakers squeezed Tesla's dominant share of electric car sales.

Tesla shares fell more than&nbsp;one per cent on Friday, to $123.74. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2020.

This week,&nbsp;Tesla amplified the discounts it’s offering&nbsp;through year’s end on its two top-selling models, an indication that demand is slowing for its EVs.

(With inputs from agencies)

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CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter.

CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter. “I’m not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn’t sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year. Musk dumped $2.58 billion worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started gaining ground in Twitter. Over the past two months, Musk has spearheaded a dizzying array of changes that have upset advertisers and alienated users. He laid off half of his staff, took moderators out of contract, and dissolved the Trust and Safety Advisors Council. He stopped enforcing his COVID-19 misinformation rule and filed criminal charges against Dr. Anthony Fauci, an infectious disease expert in the United States. Also read | World's most-subscribed YouTuber Mr Beast offers to be Twitter CEO. Elon Musk responds Tesla investors are fed up with the 24/7 Twitter clamor. The eccentric CEO is distracted from his main source of wealth, the electric car company, they say. Tesla's market cap surpassed $1.1 trillion on April 1st. This was the last trading day before Musk announced that he would buy his Twitter stake. Since then, the company has lost almost two-thirds of its value as rival automakers squeezed Tesla's dominant share of electric car sales. Tesla shares fell more than one per cent on Friday, to $123.74. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2020. This week, Tesla amplified the discounts it’s offering through year’s end on its two top-selling models, an indication that demand is slowing for its EVs. (With inputs from agencies) WATCH WION LIVE HERE:

Elon Musk reassures investors, tells them he will pause on Tesla stock sales for 18 to 24 months

The stock market's darkest days are yet to come. Some of the most severe downfalls&nbsp;the index suffered over the first 10 months of the year have been somewhat offset by Wall Street's mini-rebound since mid-October. It increased by more than 10 per cent&nbsp;since its low two months ago and ended the day Monday just around 4,000. Many analysts forecast&nbsp;that if the Federal Reserve eventually stops raising interest rates to bring rising inflation under control, equities will end in 2023 at least in this area, if not slightly higher. But many of Wall Street also anticipate that stock prices will decline significantly in the meantime before we reach that final destination.

Take Morgan Stanley, which estimates that within the first three months of the new year, the S&amp;P 500 could fall all the way to a range between 3,000 and 3,300. Accordingly, it might lose up to 25 per cent&nbsp;of its value from Monday's closing level. The bottom end of that range would be 37.5 per cent&nbsp;lower than the previous high, which was established in early 2022.

The bank is pessimistic because its strategists predict significantly lower corporate earnings than those of the rest of Wall Street. Businesses are under pressure to increase revenue while manufacturing and other sectors of the economy are deteriorating. However, Morgan Stanley predicts that once firms made sacrifices, increasing wage expenses will limit profitability.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/with-uncertain-saudi-help-and-imf-loan-pakistans-economic-woes-hit-new-low-543222">With uncertain Saudi help and IMF loan, Pakistan's economic woes hit new low</a>

Additionally, Goldman Sachs strategists projected a low in the first half of the year, probably near 3,600. Based on Goldman Sachs' prediction that the economy can avoid a recession, it would be a decline of close to 10 per cent&nbsp;from Monday's closing.

Goldman strategists led by David Kostin predicted that the S&amp;P 500 may drop as low as 3,100 if the economy does really collapse as many on Wall Street anticipate.

Also watch&nbsp;|&nbsp;Sri Lanka expecting $5 bn in loans from multilateral agencies

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The U.S. economy will experience a recession in the second half of 2023, according to strategists at Deutsche Bank. The German bank forecasts that the recession will persist into the last six months of the year, and that may push the S&amp;P 500 as low as 3,250 before it reaches its bottom.&nbsp;According to the strategists led by Binky Chadha, assuming equities follow their usual playbook during recessions, the S&amp;P 500 could conclude the year as high as 4,500.

(With inputs from agencies)

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The stock market's darkest days are yet to come. Some of the most severe downfalls the index suffered over the first 10 months of the year have been somewhat offset by Wall Street's mini-rebound since mid-October.

The stock market's darkest days are yet to come. Some of the most severe downfalls the index suffered over the first 10 months of the year have been somewhat offset by Wall Street's mini-rebound since mid-October. It increased by more than 10 per cent since its low two months ago and ended the day Monday just around 4,000. Many analysts forecast that if the Federal Reserve eventually stops raising interest rates to bring rising inflation under control, equities will end in 2023 at least in this area, if not slightly higher. But many of Wall Street also anticipate that stock prices will decline significantly in the meantime before we reach that final destination. Take Morgan Stanley, which estimates that within the first three months of the new year, the S&P 500 could fall all the way to a range between 3,000 and 3,300. Accordingly, it might lose up to 25 per cent of its value from Monday's closing level. The bottom end of that range would be 37.5 per cent lower than the previous high, which was established in early 2022. The bank is pessimistic because its strategists predict significantly lower corporate earnings than those of the rest of Wall Street. Businesses are under pressure to increase revenue while manufacturing and other sectors of the economy are deteriorating. However, Morgan Stanley predicts that once firms made sacrifices, increasing wage expenses will limit profitability. Also read | With uncertain Saudi help and IMF loan, Pakistan's economic woes hit new low Additionally, Goldman Sachs strategists projected a low in the first half of the year, probably near 3,600. Based on Goldman Sachs' prediction that the economy can avoid a recession, it would be a decline of close to 10 per cent from Monday's closing. Goldman strategists led by David Kostin predicted that the S&P 500 may drop as low as 3,100 if the economy does really collapse as many on Wall Street anticipate. Also watch | Sri Lanka expecting $5 bn in loans from multilateral agencies The U.S. economy will experience a recession in the second half of 2023, according to strategists at Deutsche Bank. The German bank forecasts that the recession will persist into the last six months of the year, and that may push the S&P 500 as low as 3,250 before it reaches its bottom. According to the strategists led by Binky Chadha, assuming equities follow their usual playbook during recessions, the S&P 500 could conclude the year as high as 4,500. (With inputs from agencies) WATCH WION LIVE HERE:

Wall Street may get lot worse before getting better in 2023, forecast analysts

Indian markets have been on a high since many days but today they have also registered some losses. Overall Asian shares were tense ahead of US payrolls data.

World Business Watch | Asian shares flat ahead of U.S. payrolls data

Share markets across the world showed movement as Russian President Vladimir Putin announced partial mobilisation in the country. The escalation has raised concerns about energy supplies as well as increased demand for weapons.&nbsp;

UK's commodity-heavy FTSE 100 reversed early losses on Wednesday, buoyed by oil stocks as crude prices surged&nbsp;

The benchmark FTSE 100 (.FTSE) rose 0.5%, while the domestically focussed mid-cap index (.FTMC) added 0.3% by 0817 GMT.

Oil majors BP (BP.L) and Shell (SHEL.L) climbed nearly 2.5% each as crude prices jumped on concerns of tighter oil and gas supply.&nbsp;

In addition to oil companies, shares of defence companies rose too. Shares of BAE Systems, Britain's biggest defence company jumped by 5.3 per cent

"Investors will be looking at defence stocks and thinking about the potential that governments will look to increase their spend on weapons and on military hardware," said Danni Hewson, financial analyst at AJ Bell. Hewson was quoted by Reuters.

UK Prime Minister Liz Truss was another world leader who caused a stir in the markets.

Housing stocks (.FTNMX402020) rose 3.3% after a report said that Truss will announce plans to cut the stamp duty on property tax in the government's mini-budget this week.

Also Read | <a href="https://www.wionews.com/world/ukraine-crisis-russias-vladimir-putin-announces-partial-military-mobilisation-518283">'Will use all available means, this is not a bluff': Russia's Putin announces partial military mobilisation</a>

Markets are expecting the Bank of England to follow suit on Thursday,&nbsp;pricing in a 77% chance of a 75-basis-point increase in rates to 2.5%, and a 23% chance of a smaller 50-basis-point increase.&nbsp;

"After what we saw in Sweden yesterday and what we're expecting to see from the Federal Reserve, it does put a great deal of pressure on the Bank of England," said Hewson.

"Markets are not quite sure what to expect from the BoE because you've got the UK Government about to borrow a huge chunk of additional cash, the expectation that the economy is already in recession and a situation where the BoE cannot cut rates in order to stimulate economic growth because that will only lead to further inflationary pressures."

(With inputs from agencies)

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Share markets across the world showed movement as Russian President Vladimir Putin announced partial mobilisation in the country. The escalation has raised concerns about energy supplies as well as increased demand for weapons.

Share markets across the world showed movement as Russian President Vladimir Putin announced partial mobilisation in the country. The escalation has raised concerns about energy supplies as well as increased demand for weapons. UK's commodity-heavy FTSE 100 reversed early losses on Wednesday, buoyed by oil stocks as crude prices surged The benchmark FTSE 100 (.FTSE) rose 0.5%, while the domestically focussed mid-cap index (.FTMC) added 0.3% by 0817 GMT. Oil majors BP (BP.L) and Shell (SHEL.L) climbed nearly 2.5% each as crude prices jumped on concerns of tighter oil and gas supply. In addition to oil companies, shares of defence companies rose too. Shares of BAE Systems, Britain's biggest defence company jumped by 5.3 per cent "Investors will be looking at defence stocks and thinking about the potential that governments will look to increase their spend on weapons and on military hardware," said Danni Hewson, financial analyst at AJ Bell. Hewson was quoted by Reuters. UK Prime Minister Liz Truss was another world leader who caused a stir in the markets. Housing stocks (.FTNMX402020) rose 3.3% after a report said that Truss will announce plans to cut the stamp duty on property tax in the government's mini-budget this week. Also Read | 'Will use all available means, this is not a bluff': Russia's Putin announces partial military mobilisation Markets are expecting the Bank of England to follow suit on Thursday, pricing in a 77% chance of a 75-basis-point increase in rates to 2.5%, and a 23% chance of a smaller 50-basis-point increase. "After what we saw in Sweden yesterday and what we're expecting to see from the Federal Reserve, it does put a great deal of pressure on the Bank of England," said Hewson. "Markets are not quite sure what to expect from the BoE because you've got the UK Government about to borrow a huge chunk of additional cash, the expectation that the economy is already in recession and a situation where the BoE cannot cut rates in order to stimulate economic growth because that will only lead to further inflationary pressures." (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Partial military mobilisation in Russia announcement makes oil, defence stocks surge

Since the breakout of the pandemic, a large number of people have entered the capital markets by the easily available technology which offers seamless online trading and investment platforms. Data proves that the number of demat accounts has&nbsp;almost doubled in the past 2 years.&nbsp;

There are several reasons for this superb growth. One is the high-speed internet and easy availability of technologically advanced platforms. One can open a demat and trading account faster than opening a bank account which just a few years ago used to take up to 5 working days. The cheaper brokerage or even ‘zero’ brokerage offered by brokerage houses has&nbsp;made&nbsp;the product more attractive.&nbsp;

Second and one of the main reasons is that these products are marketed-advertised in such a way that anyone can trade and make money from trading in the stock market and new age cryptocurrency market (which is to date not regulated by any laws of India nor any regulatory authority, like Sebi, has control over it).

The third reason is this.&nbsp;FOMO (Fear of missing out). Equity markets moved in one direction which is straight up, after hitting a low in the first phase of the corona pandemic, and during this time most of the people who entered the market made money without using any knowledge by going with the flow and this caused the FOMO effect among those who were missing this quick money-making streak. Teenagers especially entered the market in large numbers to make quick money. 

One of our professors once said, “Once you see money or value of something moving digitally on screen in large fluctuations, it will become hard not to get attracted by it. People&nbsp;will try their luck first just to see if they can make something out of it and then soon they get trapped in it.”

Social media frequently shows posts on Rakesh Jhunjhunwala, an ace Indian investor, and the wealth he created. But no one shows how he created it, what’s his&nbsp;background etc. He is a chartered accountant and has devoted his life to understanding the markets. Social media also shows how many people made money but won’t show how many lose everything in trading.

Recently, a top crypto fund filed for bankruptcy and a major trading platform of crypto suspended its operations. This doesn’t mean every platform and every fund will go out of business&nbsp;but those who joined the bandwagon blindly will face a similar fate for sure.

Is it that easy to make money out of trading in capital markets or from crypto? The plain and straight answer is NO. One has to learn something to apply the same in the practical world else that will just be a pure gamble, and in this case, one has to learn all the technical and fundamentals of capital markets before trading on their own.

There is no shortcut to making millions in quick succession. Warren Buffet, Charlie Mungar, Rakesh Jhunjhunwala, RK Damani, and all the successful investors and traders made money through hard work, knowledge, and dedication.

Learn and follow your dreams with the acquired knowledge.

(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

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Since the breakout of the pandemic, a large number of people have entered the capital markets by the easily available technology which offers seamless online trading and investment platforms.

Since the breakout of the pandemic, a large number of people have entered the capital markets by the easily available technology which offers seamless online trading and investment platforms. Data proves that the number of demat accounts has almost doubled in the past 2 years. There are several reasons for this superb growth. One is the high-speed internet and easy availability of technologically advanced platforms. One can open a demat and trading account faster than opening a bank account which just a few years ago used to take up to 5 working days. The cheaper brokerage or even ‘zero’ brokerage offered by brokerage houses has made the product more attractive. Second and one of the main reasons is that these products are marketed-advertised in such a way that anyone can trade and make money from trading in the stock market and new age cryptocurrency market (which is to date not regulated by any laws of India nor any regulatory authority, like Sebi, has control over it). The third reason is this. FOMO (Fear of missing out). Equity markets moved in one direction which is straight up, after hitting a low in the first phase of the corona pandemic, and during this time most of the people who entered the market made money without using any knowledge by going with the flow and this caused the FOMO effect among those who were missing this quick money-making streak. Teenagers especially entered the market in large numbers to make quick money. One of our professors once said, “Once you see money or value of something moving digitally on screen in large fluctuations, it will become hard not to get attracted by it. People will try their luck first just to see if they can make something out of it and then soon they get trapped in it.” Social media frequently shows posts on Rakesh Jhunjhunwala, an ace Indian investor, and the wealth he created. But no one shows how he created it, what’s his background etc. He is a chartered accountant and has devoted his life to understanding the markets. Social media also shows how many people made money but won’t show how many lose everything in trading. Recently, a top crypto fund filed for bankruptcy and a major trading platform of crypto suspended its operations. This doesn’t mean every platform and every fund will go out of business but those who joined the bandwagon blindly will face a similar fate for sure. Is it that easy to make money out of trading in capital markets or from crypto? The plain and straight answer is NO. One has to learn something to apply the same in the practical world else that will just be a pure gamble, and in this case, one has to learn all the technical and fundamentals of capital markets before trading on their own. There is no shortcut to making millions in quick succession. Warren Buffet, Charlie Mungar, Rakesh Jhunjhunwala, RK Damani, and all the successful investors and traders made money through hard work, knowledge, and dedication. Learn and follow your dreams with the acquired knowledge. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Investing and Trading is not hard but requires maturity, knowledge and a bit of luck

Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above USD 122 a barrel, adding to price pressures.

Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher. Nintendo Co. Issues surged 1.9 per cent in afternoon trading, while Honda Motor Co. Stocks gained more than 0.9 per cent.

The Japanese yen has recently slid to fresh 20-year lows against the US dollar, a trend the International Monetary Fund and other analysts expect to continue for a while because of higher interest rates in the US and Europe, compared to Japan, where long-term interest rates remain at near-zero.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/dollar-gains-as-us-stocks-fall-ecb-decision-on-tap-486375">Dollar gains as US stocks fall, ECB decision on tap</a>

The dollar was trading at 133.80 Japanese yen after hitting 134 yen levels earlier in the day, down from 134.20 yen late Wednesday. The euro cost USD 1.0721, inching up from USD 1.0718.

The Governing Council of the European Central Bank is holding a monetary policy meeting later in the day.

Comments from Christine Lagarde, head of the European Central Bank, have markets anticipating an interest rate hike in July, with possibly more to follow.

"Nonetheless, the economic recovery remains fragile and subject to down side risks from geo-political risks, eroding real incomes, supply chain constraints and limited fiscal support",&nbsp;said Venkateswaran Lavanya of the Asia &amp; Oceania Treasury Department at Mizuho Bank in Singapore.

To that end, ECB will not want to throw the baby out with the bath water,&nbsp;calibrating monetary tightening in a more sustained, even if slow, pace,&nbsp;she said in a commentary.

Watch |&nbsp;Oil hovers near 13-week high, China optimism backs price surge

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Japan's benchmark Nikkei 225 gained 0.2 per cent in afternoon trading to 28,290.06. Australia's S&amp;P/ASX 200 slipped 1.2 per cent to 7,037.10. South Korea's Kospi fell 0.4 per cent to 2,616.46. Hong Kong's Hang Seng shed 1.0 per cent to 21,788.494, while the Shanghai Composite lost&nbsp;1.1 per cent to 3,228.08.

The impact from inflation has worsened since Russia's invasion of Ukraine, which has put more pressure on energy and food prices. US&nbsp;Crude oil prices rose 2.3 per cent on Wednesday and are up 63 per cent for the year, while wheat prices are up 39 per cent in 2022.

Supply chains have also gotten tighter following a series of lockdowns for Chinese cities fighting COVID-19 cases.

In energy trading, benchmark US crude was up 29 cents to USD 122.40 a barrel. It gained USD 2.70 on Wednesday.

Brent crude, the international standard for pricing oil, gained 35 cents to USD 123.93 a barrel.

Greater inflation pressure from the conflict in Ukraine and lockdowns in China prompted the Organisation for Economic Cooperation and Development to cut its forecast for economic growth, following several other international groups, including the World Bank.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistani-rupee-nosedives-to-all-time-low-of-20283-against-us-dollar-486263">Pakistani rupee nosedives to all-time low of 202.83 against US dollar</a>

Treasury Secretary Janet Yellen, testifying before the the Senate Finance Committee on Tuesday, said she expects inflation to remain elevated and bringing that down is a top priority.&nbsp;

The Fed is widely expected to raise its key short-term interest rate by half a percentage point at its meeting next week.

That would be the second straight increase of double the usual amount, and investors expect a third in July.

Stocks fell broadly on Wall Street, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation's impact on businesses and another gloomy outlook on the global economy.

The S&amp;P 500 index fell 1.1 per cent to 4,115.77. The Dow Jones Industrial Average shed 0.8 per cent to 32,910.90 and the Nasdaq slipped 0.7 per cent to 12,086.27.

Smaller company stocks fell more than the rest of the market.

The Russell 2000 declined 1.5 per cent to 1,891.01.

Bond yields rose. The yield on the 10-year Treasury, which banks use to set rates on mortgages and other loans, rose to 3.02 per cent from 2.97 per cent late Tuesday.

The big concerns on Wall Street remain rising inflation and whether the Federal Reserve's shift to aggressively raise interest rates will help temper the impact or possibly push the economy into a recession.

The Fed's goal is to slow economic growth enough to cushion inflation's impact. Demand for goods had been outpacing supplies and production capacity through most of the post-pandemic recovery.

But, investors worry the Fed could go too far too fast in raising rates, nudging the US economy into a recession.

The next big update on inflation arrives Friday, when the US government releases its latest reading on the consumer price index.&nbsp; 
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Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above USD 122 a barrel, adding to price pressures.

Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above USD 122 a barrel, adding to price pressures. Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher. Nintendo Co. Issues surged 1.9 per cent in afternoon trading, while Honda Motor Co. Stocks gained more than 0.9 per cent. The Japanese yen has recently slid to fresh 20-year lows against the US dollar, a trend the International Monetary Fund and other analysts expect to continue for a while because of higher interest rates in the US and Europe, compared to Japan, where long-term interest rates remain at near-zero. Also read | Dollar gains as US stocks fall, ECB decision on tap The dollar was trading at 133.80 Japanese yen after hitting 134 yen levels earlier in the day, down from 134.20 yen late Wednesday. The euro cost USD 1.0721, inching up from USD 1.0718. The Governing Council of the European Central Bank is holding a monetary policy meeting later in the day. Comments from Christine Lagarde, head of the European Central Bank, have markets anticipating an interest rate hike in July, with possibly more to follow. "Nonetheless, the economic recovery remains fragile and subject to down side risks from geo-political risks, eroding real incomes, supply chain constraints and limited fiscal support", said Venkateswaran Lavanya of the Asia & Oceania Treasury Department at Mizuho Bank in Singapore. To that end, ECB will not want to throw the baby out with the bath water, calibrating monetary tightening in a more sustained, even if slow, pace, she said in a commentary. Watch | Oil hovers near 13-week high, China optimism backs price surge Japan's benchmark Nikkei 225 gained 0.2 per cent in afternoon trading to 28,290.06. Australia's S&P/ASX 200 slipped 1.2 per cent to 7,037.10. South Korea's Kospi fell 0.4 per cent to 2,616.46. Hong Kong's Hang Seng shed 1.0 per cent to 21,788.494, while the Shanghai Composite lost 1.1 per cent to 3,228.08. The impact from inflation has worsened since Russia's invasion of Ukraine, which has put more pressure on energy and food prices. US Crude oil prices rose 2.3 per cent on Wednesday and are up 63 per cent for the year, while wheat prices are up 39 per cent in 2022. Supply chains have also gotten tighter following a series of lockdowns for Chinese cities fighting COVID-19 cases. In energy trading, benchmark US crude was up 29 cents to USD 122.40 a barrel. It gained USD 2.70 on Wednesday. Brent crude, the international standard for pricing oil, gained 35 cents to USD 123.93 a barrel. Greater inflation pressure from the conflict in Ukraine and lockdowns in China prompted the Organisation for Economic Cooperation and Development to cut its forecast for economic growth, following several other international groups, including the World Bank. Also read | Pakistani rupee nosedives to all-time low of 202.83 against US dollar Treasury Secretary Janet Yellen, testifying before the the Senate Finance Committee on Tuesday, said she expects inflation to remain elevated and bringing that down is a top priority. The Fed is widely expected to raise its key short-term interest rate by half a percentage point at its meeting next week. That would be the second straight increase of double the usual amount, and investors expect a third in July. Stocks fell broadly on Wall Street, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation's impact on businesses and another gloomy outlook on the global economy. The S&P 500 index fell 1.1 per cent to 4,115.77. The Dow Jones Industrial Average shed 0.8 per cent to 32,910.90 and the Nasdaq slipped 0.7 per cent to 12,086.27. Smaller company stocks fell more than the rest of the market. The Russell 2000 declined 1.5 per cent to 1,891.01. Bond yields rose. The yield on the 10-year Treasury, which banks use to set rates on mortgages and other loans, rose to 3.02 per cent from 2.97 per cent late Tuesday. The big concerns on Wall Street remain rising inflation and whether the Federal Reserve's shift to aggressively raise interest rates will help temper the impact or possibly push the economy into a recession. The Fed's goal is to slow economic growth enough to cushion inflation's impact. Demand for goods had been outpacing supplies and production capacity through most of the post-pandemic recovery. But, investors worry the Fed could go too far too fast in raising rates, nudging the US economy into a recession. The next big update on inflation arrives Friday, when the US government releases its latest reading on the consumer price index. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Asian shares fall as oil lingers above USD 120, yen sinks

Sorry Shakespeare, all IS in name. At least USD 26 billion are. Jack Ma, the Chinese e-commerce tycoon may have suffered a tiny hiccup if he checked his net worth on Tuesday. There was a drop in his wealth by USD 26 billion. This was caused due to&nbsp;rapid fall in share prices of Alibaba, Jack Ma's e-commerce behemoth. How? Why? Where? Read on.

Jack Ma has been at the receiving end of Chinese State's crackdown lately. The tech tycoon was also reported to have fallen out of favour with powerful Chinese politicians for some time.

It is perhaps why, when Chinese State broadcaster CCTV reported that 'Ma' was detained, markets shuddered. Alibaba is based in the city of Hangzou in China. The detainment of 'Ma' took place in this very city, reported media.

What followed was a share market bloodbath in which Alibaba lost USD 26 billion of its market value. Investors naturally scrambled to sell their shares fearing 'Ma's arrest spelled doom for the company.

Amid all the crazy frenzy, The Global Times' former Editor-in-Chief Hu Xijin clarified on China's Twitter-like platform Weibo that the person detained was a random guy with the surname 'Ma' and NOT Jack Ma, the tycoon.

The Global Times is a Chinese state-run tabloid. To further calm the frenzy, the tabloid said that the detained Ma was born in 1985 while it's a public knowledge that Jack Ma was born in 1964.

The clarification gave a filip to Alibaba's shares and the company recovered most of the loss by end of the day.

Decode the geostrategy, diplomacy, and ideologies of the world’s unending wars. Catch our special series ‘World at War’ every Saturday at 8:30 PM IST and Sunday at 10:30 PM IST only on WION.

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Sorry Shakespeare, all IS in name. At least USD 26 billion are. Jack Ma, the Chinese e-commerce tycoon may have suffered a tiny hiccup if he checked his net worth on Tuesday.

Sorry Shakespeare, all IS in name. At least USD 26 billion are. Jack Ma, the Chinese e-commerce tycoon may have suffered a tiny hiccup if he checked his net worth on Tuesday. There was a drop in his wealth by USD 26 billion. This was caused due to rapid fall in share prices of Alibaba, Jack Ma's e-commerce behemoth. How? Why? Where? Read on. Jack Ma has been at the receiving end of Chinese State's crackdown lately. The tech tycoon was also reported to have fallen out of favour with powerful Chinese politicians for some time. It is perhaps why, when Chinese State broadcaster CCTV reported that 'Ma' was detained, markets shuddered. Alibaba is based in the city of Hangzou in China. The detainment of 'Ma' took place in this very city, reported media. What followed was a share market bloodbath in which Alibaba lost USD 26 billion of its market value. Investors naturally scrambled to sell their shares fearing 'Ma's arrest spelled doom for the company. Amid all the crazy frenzy, The Global Times' former Editor-in-Chief Hu Xijin clarified on China's Twitter-like platform Weibo that the person detained was a random guy with the surname 'Ma' and NOT Jack Ma, the tycoon. The Global Times is a Chinese state-run tabloid. To further calm the frenzy, the tabloid said that the detained Ma was born in 1985 while it's a public knowledge that Jack Ma was born in 1964. The clarification gave a filip to Alibaba's shares and the company recovered most of the loss by end of the day. Decode the geostrategy, diplomacy, and ideologies of the world’s unending wars. Catch our special series ‘World at War’ every Saturday at 8:30 PM IST and Sunday at 10:30 PM IST only on WION. WATCH WION LIVE HERE ×

Random guy named Ma gets detained, Alibaba loses USD 26 billion

Citigroup, the US banking giant has said that one of its traders committed an error in the stock market "flash crash" in Europe, said local media reports.

An extremely fast fall in the price of one or more assets is called a flash crash. This is often caused by a trading mistake. After the flash crash, trading was halted in several share markets on Monday.

Nordic stocks were hit the hardest, while other European indexes also plummeted for a short time.

"This morning one of our traders made an error when inputting a transaction. Within minutes, we identified the error and corrected it," the New York-based bank said in a statement late on Monday.

The BBC said that the flash crash caused European shares to undergo a sudden fall on a day trading was particularly thin due to public holidays around the world.

Among the indexes, Stockholm OMX 30 share index in Sweden was one of the hardest hit. At one point, it fell 8 per cent. It later recovered most of these losses to end up 1.87 per cent lower at the end of the day.

Flash crashes can be caused by human error, or so-called "fat finger" trades - a reference to someone incorrectly typing the details of a trade.

In August 2012, a computer-trading glitch at US financial services firm Knight Capital caused a major stock market disruption, costing the company around $440 million.

A flash crash on the Singapore Exchange in October 2013 saw some stocks lose up to 87 per cent of their value and resulted in new regulations being put in place to avoid a repeat of the incident.

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Citigroup, the US banking giant has said that one of its traders committed an error in the stock market "flash crash" in Europe, said local media reports. An extremely fast fall in the price of one or more assets is called a flash crash.

Citigroup, the US banking giant has said that one of its traders committed an error in the stock market "flash crash" in Europe, said local media reports. An extremely fast fall in the price of one or more assets is called a flash crash. This is often caused by a trading mistake. After the flash crash, trading was halted in several share markets on Monday. Nordic stocks were hit the hardest, while other European indexes also plummeted for a short time. "This morning one of our traders made an error when inputting a transaction. Within minutes, we identified the error and corrected it," the New York-based bank said in a statement late on Monday. The BBC said that the flash crash caused European shares to undergo a sudden fall on a day trading was particularly thin due to public holidays around the world. Among the indexes, Stockholm OMX 30 share index in Sweden was one of the hardest hit. At one point, it fell 8 per cent. It later recovered most of these losses to end up 1.87 per cent lower at the end of the day. Flash crashes can be caused by human error, or so-called "fat finger" trades - a reference to someone incorrectly typing the details of a trade. In August 2012, a computer-trading glitch at US financial services firm Knight Capital caused a major stock market disruption, costing the company around $440 million. A flash crash on the Singapore Exchange in October 2013 saw some stocks lose up to 87 per cent of their value and resulted in new regulations being put in place to avoid a repeat of the incident. WATCH WION LIVE HERE ×

Citigroup trader's error caused 'flash crash' in European markets

Asian share markets mostly eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

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China's second-largest property developer by sales, Evergrande, slides into more financial trouble as it racks over $300 Billion worth of debt. Fitch, a major credit rating agency declares the firm a defaulter.

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Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making&nbsp;a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default.

"Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP.

Evergrande is a major real estate firm in China and carries USD 300 billion&nbsp;in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on&nbsp;edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy.

On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through.

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Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower.

In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent.

The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent.

Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited.

(With inputs from agencies)

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline.

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default. "Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP. Evergrande is a major real estate firm in China and carries USD 300 billion in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy. On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through. Also Read | Harambe the gorilla's statue stands in the way of Charging Bull on Wall Street Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower. In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent. The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent. Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited. (With inputs from agencies)

Surprise interest payment from Evergrande boosts global markets

In the latest blow to the developer whose massive debt woes have rattled global markets, shares of China Evergrande group slid as much as 14% today morning after a deal to sell a $2.6 billion stake in its property services unit fell through.

Shares of China Evergrande group slid as much as 14%

Despite fresh all-time highs on Wall Street, Asian stock markets opened lower today, as worries about China's slowing economic growth and regulatory changes weighed on investor sentiments. WION's Sumit Chaturvedi talks to Margaret Yang Yan, DailyFX strategist for more perspective.

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Global markets are once again touching new highs, US markets are at a record high already. There are multiple risks that are being faced by economies as well. What is the outlook for global economies and what is the way ahead? Daily Effects Strategist from Asian Financial Hub Singapore, Margaret Yang Yen talks to WION on these issues.

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The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today.

It was&nbsp;around the same time last year that&nbsp;nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India.

On the first day of the third week of February, the stock markets today are once again at record high levels.

Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington.

The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace.

However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents'&nbsp;Day holiday. So, this rally could be visible there once they open tomorrow.

Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India. On the first day of the third week of February, the stock markets today are once again at record high levels. Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington. The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace. However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents' Day holiday. So, this rally could be visible there once they open tomorrow. Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

Surging global stock markets mark fading of economic pessimism

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