Stocks dive on Monday, Tiffany gets speedy trial, Tesla’s annual stockholder meeting
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 22 September 2020
⏱️ 9 minutes
🧾️ Download transcript
Summary
Global stocks suffered a heavy hit on Monday in a rush of nerves about potential new Covid-19 lockdowns, and LVMH’s attempt to walk away from its $16.6bn takeover of Tiffany will go to trial in January. Plus, the FT’s Richard Waters will explain what is in store for Tesla’s Battery Day today and whether the car company can fight off the competition.
Global stocks sink on fears of new Covid lockdowns
https://www.ft.com/content/7da536fa-1e96-461c-8172-4aa6c5a8fa8e
Tiffany gets speedy trial over LVMH’s bid to ditch takeover deal
ft.com/content/e7b7f86b-28c7-4cec-a282-7e8dee63e425?
Beyond the market hype: Tesla tries to expand its lead in batteries
https://www.ft.com/content/2e5731a1-c7ac-4f3e-ba0a-d9bae5b7fa67
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:01.9 | Today is Tuesday, September 22nd. |
| 0:04.6 | This is your FT news briefing. |
| 0:08.9 | Global stocks hit the skids on Monday, |
| 0:11.3 | and LVMH tried to walk away from its deal to acquire Tiffany, now Tiffany |
| 0:16.2 | will get its day in court sooner. Plus Tesla has become a motoring powerhouse over the past few |
| 0:22.3 | years, but does it have the staying power to |
| 0:24.4 | fight off a growing field of competitors? |
| 0:27.0 | I'm Mark Filipino. Here's the news you need to start your day. If September 2020 reminded us of anything, it's yes, stocks do |
| 0:38.8 | actually go down. The S&P 500 has been hitting the slope since the beginning of the month and yesterday continued that trend. |
| 0:47.0 | Equities around the globe were down with the S&P 500 dropping around 2 and a third percent in midday trading before rallying at the bell. |
| 0:55.0 | But it still ended in a loss for the day. |
| 0:57.5 | The NASDAQ slid 1.5 percent on Monday. |
| 1:00.8 | The FTS markets reporter Colby Smith says there isn't just one factor leading to all the selling. |
| 1:07.0 | There's just quite a lot of nerves here over the economic recovery, but also the potential for a new set of lockdowns or restrictions |
| 1:17.4 | as a government seek to tackle the coronavirus pandemic. We've seen a lot of talk in countries across Europe for some of those |
| 1:27.3 | lockdowns to resume and that's pretty much caused directly a lot of the economic damage that we have seen and so if |
| 1:34.7 | lockdowns are going to return I think it sparks quite a bit of fear in |
| 1:38.1 | investors eyes as to what the recovery is going to look like going forward. |
| 1:41.8 | And speaking of recovery efforts, Colby, today Federal Reserve Chairman J Powell |
| 1:46.8 | kicks off a three-day testimony before U.S. Congress. |
| 1:50.4 | What should we look out for there? In the testimony that was released yesterday, |
... |
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