.
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 $91.7 billion. The weakened Chinese currency will make foreign goods, like LVMH’s luxury handbags and perfumes, more expensive to Chinese consumers. LVMH has otherwise enjoyed a positive year. Shares are up 11% in the last 12 months, in part because Chinese markets have boosted sales at several of its brands, including Givenchy cosmetics and Berluti menswear, according to the company’s
Every one that works took a hit
When this affects the richest people its known to ‘capitulate’ for personal income reasons...
Oh no. What will we do?!?
that’s so sad. Now they’ll have to decide between life saving medical supplies and food for their families, right? * sarcasm mode off. 🙄
Republicans crash the economy every time they seize power. Every damn time.
For them that loss is like for us 10$.
😂😂😂😂😂
Poor guys 😪
Stonks
🤷🏻♂️
เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:
ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว
Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้
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:
แหล่ง: MarketWatch - 🏆 3. / 97 อ่านเพิ่มเติม »
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
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »
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.
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »
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
แหล่ง: CNBC - 🏆 12. / 72 อ่านเพิ่มเติม »