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Ford have announced that third-quarter results will fall short because 45,000 cars are stuck in production due to a lack of parts, the market decided to wipe 12%, or $7billion, off Ford’s valuation on Tuesday, the largest single-day decline since 2011.

Over the past weeks, the number one topic among investors has undoubtedly been central banks, which are even more determined to tighten monetary policy. Investors have been discounting the ECB’s hawkish turn and Christine Lagarde’s firm comments.

High energy prices mean the OPEC countries will earn $907 billion from oil exports this year, according to the U.S. Energy Information Administration (EIA), compared with $577 billion on average since 2000. 

US dollar has maintained good momentum this week, largely benefiting from safe-haven demand as risk sentiment has remained quite fragile.

US indices finished yesterday’s session lower. S&P 500 dropped 1.13%, Dow Jones moved 1.01% lower while Nasdaq fell 0.95%. Russell 2000 plunged 1.36%.

California Attorney General Rob Bonta last week accused Amazon of violating antitrust law, in the $1.3 trillion e-commerce giant’s biggest legal challenge yet, but Amazon says the idea it’s illegally squeezing its merchants is “exactly backwards.” Whether the Californian AG prevails or not, investors have already granted Amazon a market valuation fit for a monopoly….

WTI crude oil and Brent continue to trade uneven with ICE Brent in a US$4/bbl range yesterday, but managed to settle higher on the day, after trading weaker earlier in the session.

Mukesh Ambani the Indian tycoon, failed in his pursuit of big flashy targets that tripped up compatriots over a decade ago. His quieter penchant for snapping up foreign technology is a much smarter strategy.

Volkswagen’s supervisory board is due to meet on Sunday to move forward with the IPO of its Porsche brand, which will comprise 911 million shares, as symbol for its iconic sports car model, and list a 25% stake in non-voting shares.