Bloomberg Shares of Chinese companies listed in the US tumbled, extending a selloff that pushed them to their lowest level since 2016. The Nasdaq Golden Dragon China Index sank 4.8% amid concerns over higher inflation, risks from the Russia-Ukraine war and rising Covid-19 cases in China and Hong Kong. The selloff is also coming during the National People’s Congress …

  Bloomberg Major stock markets from Europe to Asia are heading for bear markets — falling more than 20% from highs — amid fears of an inflation shock as crude oil soared on the prospect of a ban on Russian supplies. Europe’s Stoxx 600 dropped more than 3% on Monday, while US equity index futures and an Asian share index …

  Bloomberg The Indian rupee tumbled to a record low, while stocks and bonds also slumped as a relentless surge in oil prices darkened the nation’s economic outlook. India relies on overseas purchases to meet about three-fourths of its oil requirement, making it one of the most vulnerable in Asia to higher oil prices. Oil prices, already up more than …

  Bloomberg Global oil markets could tighten even more with Russian flows being disrupted and producers such as Libya experiencing supply problems, according to Vitol Group, the world’s biggest independent crude trader. That could push prices higher still after they soared to more than $115 a barrel in the wake of Russia’s invasion of Ukraine. “We have plenty of twists …

  Bloomberg After taking a barrage of criticism for buying a cargo of Russian crude, Europe’s largest oil company Shell Plc says it’s navigating the market with government guidance. “We will continue to choose alternatives to Russian oil wherever possible, but this cannot happen overnight because of how significant Russia is to global supply,” Shell said in a statement. “We …

  Bloomberg International sanctions triggered by the invasion of Ukraine are poised to derail a Russian effort to challenge Airbus SE and Boeing Co in single-aisle jets. Irkut Corp’s MC-21 jetliner, set to enter service this year, had already been hit by delays and cost overruns due to pre-existing sanctions. The plane, which features composite wings and is designed to …

  Bloomberg Ethiopian Airlines signed a memorandum of understanding to purchase five of Boeing Co’s newest air-cargo haulers, the 777-8 freighter, the airline said in an emailed statement. Africa’s largest aviation group is the second customer to announce a commitment for the freighter version of the 777X. Chicago-based Boeing seeks to bring the 777-8 freighter to market by 2027, about …

Bloomberg Hong Kong’s retail sales grew at the slowest pace since July, with the government warning of further pressure ahead amid a surge in Covid cases. The value of retail sales grew 4.1% in January from a year earlier, compared with the median estimate of 0.4% in a Bloomberg survey of economists. The volume of sales rose 1.7%. The Lunar …

  Bloomberg Russia will halt some international flights to keep billions of dollars’ worth of aircraft from being taken back by their foreign owners, deepening a rupture in the global aviation industry triggered by the invasion of Ukraine. The government’s move will give Aeroflot and other Russian carriers cover to hold on to hundreds of Airbus SE and Boeing Co …

  Bloomberg Spanish fashion retailer Inditex SA is temporarily closing all its shops in Russia and halting online sales in response to the country’s invasion of Ukraine. The retailer “cannot guarantee the continuity of operations and trading conditions” in Russia, it said in a statement. Inditex has 502 stores in the country, of which 86 are its Zara brand. While …