What caused oil to drop today?
Oil prices dropped on Tuesday, falling below $100 a barrel, as China, the world’s largest oil importer, imposed new lockdowns to combat an outbreak of the coronavirus, moves that could threaten demand.
Why is Hang Seng Index falling?
The Hang Seng Index slipped from a two-month high amid concerns about new Covid-19 infections. A rally in tech stocks, built on speculation about an end to sector crackdown, fizzled out. The Hang Seng Index slipped from a two-month high amid concerns about new Covid-19 infections.
Why are Hong Kong stocks falling?
Hong Kong stocks fall most in 5 weeks on U.S. inflation, COVID worries. China stocks fell on Monday and Hong Kong shares saw their biggest intraday decline since May 6, as COVID-19 uncertainty sparked worries of lockdowns, while U.S. inflation raised concerns the Federal Reserve will continue to tighten policy.
How many gallons of gas do you get from a barrel of oil?
19 Gallons
Fact #676: May 23, 2011 U.S. Refiners Produce about 19 Gallons of Gasoline from a Barrel of Oil. A standard U.S. barrel contains 42 gallons of crude oil which yields about 44 gallons of petroleum products. The additional 2 gallons of petroleum products come from refiner gains which result in an additional 6% of product …
Why are tech stocks getting hammered?
First and foremost, tech stocks have been hammered by a slew of macroeconomic headwinds—the war in Ukraine, COVID-19 lockdowns in China, snarled supply chains, sky-high inflation, slowing economic growth, and the list goes on.
Why is Chinese market falling?
Regulatory pressure, the Russia-Ukraine crisis, and the new Covid lockdown in China have caused a massive fall in US-listed Chinese firms’ stocks. Alibaba’s stocks have plunged by 9%, while several other Chinese giants have also fallen.
What is happening to the Hong Kong stock market?
China stocks fall 2% as COVID curbs, inflation woes dent appetite. The CSI300 index was down 2.4% at 4,131.33 points by the end of the morning session, while the Shanghai Composite Index lost 1.8% to 3,195.07 points.
Are foreign businesses leaving China?
According to a survey by the German Chamber of Commerce in China released on Thursday, 28 per cent of foreign employees from surveyed companies were planning to leave China before or upon the expiration of their current contracts, due to coronavirus-related measures.
Why did hk stock drop today?
HONG KONG — Hong Kong stocks fell nearly 4% Monday as technology firms were hit by concerns over China’s crackdown on the sector and as the country’s tech hub Shenzhen was put into lockdown.
Why hk stock drop today?
Local stocks fall to a one-week low. A prolonged lockdown in Shanghai is weighing on market sentiment, with earnings and economic growth under pressure. Covid-19 lockdowns weighed on China’s economic outlook, forcing a retreat in major tech stocks.