European shares opened lower on Tuesday; After Russia launched a new ground attack on Ukraine. The World Bank also cut its global growth forecast, citing the inflationary effects of the war. The Stoxx 600 stock index fell 0.8 percent. The FTSE 100 traded unchanged. Xetra Dax was down 0.7 percent. The Hang Seng stock index lost 2.5 percent. Concerns With global growth, the Chinese government has tightened regulations on the country’s lucrative live broadcast industry.
Ukrainian President Zelensky said Monday, when major European markets were closed for the Easter holiday, Russia had converted a “significant part” of its forces. And is concentrated in the eastern Donbas border region of the country. The World Bank also cut its global economic growth forecast from 4.1 percent to 3.2 percent. It also predicted a contraction in Europe, which is vulnerable to sanctions against Russia and delays in the supply chain. This, in turn, leads to rising energy and food prices.
Economists estimate that Europe is in a worse position than the United States regarding its dependence on Russian oil and gas. There is also an impact on sentiment and economic activity that will not disappear. However, general caution is best about global stocks. The future environment will be increasingly complex for most companies; Cost pressures will increase.
Investors also expected a week of corporate earnings on Tuesday; To get information about how the business world was fighting inflation and the uncertain growth prospects. Netflix will release quarterly figures later Tuesday. Analysts observe a trend that has shown that U.K. families have abolished signing; To cope with the cost of living, whether they will repeat it elsewhere.
In debt markets, U.S. Treasury yields on 10-year benchmark bonds remained unchanged at 2.86 percent, close to the highest rate at the end of 2018. Bond yields change their prices in reverse. On Thursday, the chairman of the Federal Reserve will deliver a speech. This may indicate how aggressively the U.S. Federal Reserve will raise interest rates this year; After the annual growth rate of consumer prices reached 8.5 percent in March.
The price of gold reached its highest level in a month on Monday; Economic growth concerns forced investors to buy a shelter asset, unchanged at $1,978 a troy ounce. The Brent crude oil price has fallen 1 percent in the last four days after rising. While at $112.07 a barrel. China tech stocks decreased on Tuesday. Markets reopened following news that Beijing had tightened regulations on the country’s live streaming industry.
The Hang Seng Tech Index, which controls the technology groups listed in Hong Kong, fell 3.9 percent; Bilibili suffered a significant loss on video platforms, down 11 percent, and Kuaishou, which dropped to 5.5 percent. On Friday, the Chinese National Radio and Television Administration banned the streaming of unauthorized games from living public broadcasts. A few days later, Since regulators first approved video games in months. Analysts interpreted this as a sign of easing the crackdown on the sector.
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