Spreadex Market Update
Amazon shares have taken big hit
US markets have opened lower this afternoon, following on from the losses seen throughout Europe whilst Amazon and Ford drag the index lower. Amazon shares have taken big hit with 8% being wiped off its shares as the internet retailer reported a 23% increase in expenses. Despite this, the firm boasted a 32% increase in profits; however this wasn’t enough to offset the negative expenses figure. Similarly, Ford has posted Q1 profit lower than expected due to increased warranty costs. The automaker is currently trading down 3%, dragging the US index lower.
European markets have continued their decline past the US open with the German Dax now down over 110 points as worry’s in Ukraine continue to affect global market risk. US Consumer Sentiment came in better than expected at 84.1; however US markets continue to trade in the red.
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