Market Whirlwind: Global Stocks Tumble Amid Sanctions and Earnings Reports
Global markets endured a turbulent session with notable declines in tech megacaps and meme stocks. Beyond Meat's plunge and underwhelming reports from Tesla and Netflix weighed on the market. Meanwhile, talk of U.S. export curbs on China and Ukraine-related sanctions on Russia added to the volatility, impacting energy prices.
In a session marked by volatility, global markets witnessed significant declines in tech megacaps and popular meme stocks. Beyond Meat took a sharp 11.4% dip after recent investor-driven surges.
Notably, Tesla and Netflix shares also dropped due to disappointing earnings reports, contrasting with the broader trend of better-than-expected company results.
Further volatility came from geopolitical tensions as the U.S. considered export restrictions against China and imposed sanctions on Russia, leading to a noticeable 2.7% rise in Brent crude prices.
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