European stock exchanges slipped yesterday on political events surrounding the west. Investor sentiment has remained bearish.
The pan-European index of shares STOXX 600 lost 1.2% early in the session. Tech stocks dropped 2.2%, spearheading the losses. All sectors and indexes traded in the negative territory.
Markets are focusing to the updates over US Democrats’ bid to impeach US President Donald Trump.
House Speaker Nancy Pelosi announced the inquiry two days ago. It followed the concerns over Trump’s pushing of Ukraine to investigate Joe Biden. Biden is a Democrats and aspires to run for presidency in the next elections.
In Asia, markets were none the better. Traders followed US political developments and the rhetoric from the US and China.
In the UN General Assembly on Tuesday, Trump said he would not accept a “bad deal” in trade talks. On the flipside, China’s diplomats said the country wouldn’t accept threats or interference.
More political uncertainty clouds the outlook for the markets. Over in the United Kingdom, British Prime Minister Boris Johnson recently received a serious loss.
UK Supreme Court ruled that Johnson’s decision to suspend Parliament weeks before Brexit was unlawful. The BPM said he disagreed with the decision.
He added that he would take the UK out of the European Union by October 31.
After the ruling, the MPs will reconvene in Parliament. Lawmakers now call for the BPM to resign after the ruling against him.
On the corporate level, Thyssenkrupp’s board wants CEO Guido Kerkhoff to leave the company. This comes after multiple profit warnings.
This is another blow to the company that has been trying to restructure and bring back life to the business. Earlier this year, the company tried to sell or list some parts of its elevators business.
Supervisory Board Chairwoman Martina Merz will replace Kerkhoff as interim CEO.
Quick Look: Bitcoin price currently consolidates around $57,000, down by 5%; Fed maintains high interest… Read More
Quick Look: Microsoft invested $1 billion in OpenAI in 2019 to catch up with Google… Read More
Ethereum in Ascending Channel: Risk at $3,000, Upside to $3,500 Quick Look: Bullish Channel: Ethereum… Read More
PayPal's Strong Start in 2024: $403.9B Payment Volume Surge Quick Look: Significant Volume Increase: PayPal… Read More
XTB announced its entry into the UK's £400 billion ISA market less than a quarter… Read More
In this BTN Centre review, we will embark on a trading journey, where cutting-edge technology… Read More