Zuckerberg, Arnault And Eight Other Billionaires Are $23 Billion Poorer In A Day As Stock Market Falls

  • 📰 Forbes
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 53%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Monday was the worst day in 2019 for stock markets, and some of the world’s richest people took the biggest hit

.

Eighteen billionaires saw their net worth drop by $1 billion or more on Monday. Stocks plummeted as China devalued its currency reportedly to its lowest level against the dollar since 2008. The change followed President Donald Trump’s announcement on Thursday that he would continue to impose tariffs on Chinese imports.

The day’s biggest loser was LVMH CEO Bernard Arnault of France, whose net worth fell by $4 billion, to $91.7 billion. The weakened Chinese currency will make foreign goods, like LVMH’s luxury handbags and perfumes, more expensive to Chinese consumers. LVMH has otherwise enjoyed a positive year. Shares are up 11% in the last 12 months, in part because Chinese markets have boosted sales at several of its brands, including Givenchy cosmetics and Berluti menswear, according to the company’s

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Every one that works took a hit

When this affects the richest people its known to ‘capitulate’ for personal income reasons...

Oh no. What will we do?!?

that’s so sad. Now they’ll have to decide between life saving medical supplies and food for their families, right? * sarcasm mode off. 🙄

Republicans crash the economy every time they seize power. Every damn time.

For them that loss is like for us 10$.

😂😂😂😂😂

Poor guys 😪

Stonks

🤷🏻‍♂️

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 394. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Why a falling Chinese yuan crushed the stock market and intensified the trade warWhile economists and traders debated whether the yuan weakness signaled a willingness by Beijing to use the yuan as a weapon in the trade war, investors have fled stocks:
Källa: MarketWatch - 🏆 3. / 97 Läs mer »

Big Tech lost $162 billion in value in Monday's market route, led by plunge in AppleIn the stock market's worst day of 2019, the biggest tech companies got hammered, losing more than $160 billion in combined market cap. Will come back always does *rout Thank you Mr POTUS realDonaldTrump
Källa: CNBC - 🏆 12. / 72 Läs mer »

Big Tech lost $162 billion in value in Monday's market rout, led by plunge in AppleIn the stock market's worst day of 2019, the biggest tech companies got hammered, losing more than $160 billion in combined market cap. Thanks Kernen and Don the Con That makes the tariffs look like a pittance Yea that’s not really surprising that Apple would be hit hardest (and really they deserve it). The whole company depends on China and it being cheep. They have the ability to make their products in America but they choose not to.
Källa: CNBC - 🏆 12. / 72 Läs mer »

5 things to know before the stock market opensThe Dow is set to bounce; China labeled a 'currency manipulator'; mortgage rates hit November 2016 lows, ex-Fed chiefs call for independent central bank; and Apple invites first customers to its credit card. Bitcoin is all you need to know. 6. Don’t believe analysts, because they don’t know anything. Markets are based on feelings, not fundamentals... and they hate uncertainty they’re out of stock
Källa: CNBC - 🏆 12. / 72 Läs mer »