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Japan’s Nikkei share average posted the biggest daily decline since November on Tuesday. The Nikkei fell 1.7% to 19,041.34 points, posting the biggest daily percentage drop since November 9, after Trump was elected as U.S. president.
Fitbit lowered its fourth-quarter revenue estimate and said it would cut about 6% of its workforce. The company said it expects fourth-quarter revenue to be $572 million-$580 million from its earlier estimate of $725 million-$750 million.
Deutsche Bank doesn’t know whether it will have to raise fresh capital or not. “There is still some uncertainty. Only when this is gone will be know exactly what our capital resources look like for the long term,” management board member Christian Sewing was quoted as saying in German daily newspaper Handelsblatt.
Germany fears that President Donald Trump’s policies could reverse stock market gains, a senior official said. “I am anxiously waiting for the moment when the current good mood at the stock markets in light of the policies of Donald Trump will start reverting,” Germany’s transatlantic coordinator, Juergen Hardt, said.
Goldman Sachs CEO Lloyd Blankfein told employees that President Donald Trump’s immigration order was not a policy the bank endorsed. “I would note that it has already been challenged in federal court, and some of the order has been enjoined at least temporarily,” Blankfein told employees.
US consumer spending rose solidly in December as households bought motor vehicles and a range of services amid rising wages. This points to sustained domestic demand that is likely to set the economy up for faster growth in early 2017.
German inflation is up. Germany’s annual inflation rate in January has risen to 1.9% from 1.7% the month before, a jump that’s likely to stoke local criticism of the European Central Bank’s stimulus efforts.
Russia is appealing to the World Trade Organisation to settle a dispute with the European Union over anti-dumping duties imposed on its steelmakers. The EU in August introduced duties of up to 36.1% on Russian cold rolled steel, a product used in the construction and automotive industries.
Brazil’s onetime richest man, Eike Batista, surrendered to police after flying back to Rio de Janeiro to face bribery and other corruption charges. Batista, 60, is alleged to have paid a $16.5 million bribe to former Rio de Janeiro state governor Sergio Cabral, who is already behind bars.
Citigroup is getting out of mortgages. The bank said it would speed up the transformation of its US mortgage business by exiting servicing operations by the end of 2018.
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