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Volvo Car shares plunge 25% on declining China sales and layoff plans.
Volvo Cars' stock plummeted 25% on Friday after the company announced plans to cut 2,500 jobs and reported an operating loss of SEK 5.6 billion (approximately $563.7 million) for the third quarter, primarily due to a significant decline in sales in the Chinese market.
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24H Trending
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Asian markets broadly fell: The Hang Seng Index dropped 3.03% to a four-month low, and the Hang Seng Tech Index fell 5%; Brent crude rose 3.2% to $112.27, due to AI concerns and heightened tensions in the Strait of Hormuz.
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Middle East Tensions Escalate: Houthis Claim Multiple Attacks on Saudi Arabia, Brent Oil Surpasses $112, Iran Claims to Have Struck Oil Tanker in Strait of Hormuz
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AI Companies and French Sovereign Debt Face Stress Test: CoreWeave CDS Spreads Exceed 1,000 Basis Points, France's 10-Year Government Bond Yield Breaks 5% for the First Time Since 2002, Moody's to Review France's Rating
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Crypto traders value Indian telecom company Reliance Jio's IPO at approximately $110 billion.
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The 10-year U.S. Treasury yield fell by approximately 11 basis points from its previous close, now at 5.04%.
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Tesla and NVIDIA Invest KRW 3.7 Trillion in Samsung Electro-Mechanics, Securing AI Chip Substrate Production Capacity
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Houthis claim Saudi Arabia targeted an Indian boat in Red Sea, rescued 14 Indian nationals
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An Israeli court ordered the release of nine settlers suspected of attacking journalists and diplomats in the West Bank, as UN Secretary-General Guterres described the situation there as "out of control."
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Arbitrage trades in European government bonds have triggered successive liquidations, leading to nearly a hundred London traders exiting the market, with the French 10-year government bond yield surpassing 5%.
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The 30-year U.S. Treasury yield is down approximately 9 basis points from its previous close, currently at 5.35%.
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