{"id":37964,"date":"2022-11-28T16:27:00","date_gmt":"2022-11-28T16:27:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=37964"},"modified":"2022-11-29T09:34:05","modified_gmt":"2022-11-29T09:34:05","slug":"midday-wrap-china-pressures-us-markets","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-wrap-china-pressures-us-markets\/","title":{"rendered":"Midday Wrap – China pressures US markets"},"content":{"rendered":"\t\t
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Markets were in a bearish mood on Wall Street<\/a>, with all of the major indices<\/a> trading sharply lower due to the nationwide protests that appear to be spreading across China over the weekend and today.<\/p>

During the US session shares of companies with big production facilities in the country were under pressure. Apple<\/a> lost 1.5% after Bloomberg reported that unrest at a factory in China could mean 6 million fewer iPhone Pro units for the year.<\/p>

The developments reverberated across global markets. with oil futures hovering around new 2022 lows around demand concerns, while the US dollar <\/a>appeared to suffer another intraday drubbing.<\/p>

Local governments tightened Covid controls as cases surged, even though earlier this month Beijing adjusted some policies that suggested the world\u2019s second-biggest economy was on its way to reopening.<\/p>

The euro currency<\/a> made a new five-month high today, this was probably more due to US dollar weakness than euro strength if we consider the dire state the European economy currently finds itself in.<\/p>

ECB President Christine Lagarde was speaking this afternoon, and largely she has been addressing the economic problems in the eurozone and also inflation issue the block faces.<\/p>

She said that \u201cDecisions will follow a meeting-by-meeting assessment\u201d and \u201cIn December we will also lay out the key principles for reducing bond holdings.\u201d The euro currency appeared to like these comments.<\/p>

During the Parliament question and answer session today she said that \u201cFiscal policy needs to be considerate and to not add to inflationary pressures\u201d and \u201cGrowth is expected to continue weakening for the remainder of this year and the beginning of next year.\u201d<\/p>

Minor data releases from the US today. The Federal Reserve Bank of Dallas\u2019 general business activity index for manufacturing in Texas was at -14.4 in November of 2022, compared to -19.4 recorded in the prior month.<\/p>

Canada\u2019s current account balance rose sharply earlier today data revealed. This was because the goods surplus fell on a slower global economy and declines in commodity prices, especially oil<\/a>.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Markets were in a bearish mood on Wall Street, with all of the major indices trading sharply lower due to the nationwide protests that appear to be spreading across China over the weekend and today. During the US session shares of companies with big production facilities in the country were under pressure. Apple lost 1.5% […]<\/p>\n","protected":false},"author":4,"featured_media":38021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[543,741,740,95,67],"yoast_head":"\nMidday Wrap - China pressures US markets - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-wrap-china-pressures-us-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Wrap - China pressures US markets Midday Wrap - China pressures US markets\" \/>\n<meta property=\"og:description\" content=\"Markets were in a bearish mood on Wall Street, with all of the major indices trading sharply lower due to the nationwide protests that appear to be spreading across China over the weekend and today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/midday-wrap-china-pressures-us-markets\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-28T16:27:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-29T09:34:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/11\/GettyImages-937121130.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"499\" \/>\n\t<meta property=\"og:image:height\" content=\"330\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Midday Wrap - 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