Global equities slipped as heightened volatility in technology names prompted the first US fund outflows since March, denting risk appetite across markets.
Bloomberg reported Volkswagen AG is weighing cuts of up to 100,000 roles — roughly 15% of its workforce of about 675,000 — as mounting competitive pressure from low‑cost Chinese automakers forces a strategic rethink. Chinese brands now account for about one in 10 cars sold in Europe, intensifying margin and volume challenges for legacy producers.
Aerospace saw brighter news: Airbus won a roughly $9.35 billion order from China Eastern for widebody jets, underscoring resilient long‑haul demand even as airlines trim capacity and reorder fleets.
Macro signals were mixed. Economists raised U.S. core inflation forecasts despite the fragile ceasefire in Iran, leaving expectations that the Federal Reserve will hold policy rates steady for now.
Market action: European equities fell just under 1%; major Asian indexes in Japan and mainland China corrected between 1% and 2%. U.S. futures looked set to open more than 1% lower. Oil extended declines, with Brent down about 3.5% near $72 a barrel.
Leave a Reply