Shares in Germany’s SAP extended a months-long downtrend, falling to their lowest since August 2024 and bringing the loss in market value since last year’s record high to around $130 billion. The decline is part of a broader selloff that has hit software stocks in Europe.
The dollar edged up from three-week lows against the euro and the Swiss franc on Wednesday as investors digested U.S. President Donald Trump’s speech at Davos, after his tariff threats triggered a broad selloff in U.S. assets.
Netflix exceeded Wall Street’s revenue estimates for its holiday quarter, as it crossed 325 million subscribers, the company said. Revenue came in at $12.1 billion for October through December.
The Canadian dollar strengthened to nearly a two-week high against its U.S. counterpart as investors’ negative reaction to the threat of a fresh U.S. trade clash with Europe weighed on the greenback.
Gold climbed to another record high, scaling the unprecedented $4,700 an ounce milestone as escalating geopolitical tensions boosted safe-haven demand, while silver also broke above $95 for the first time.
London shares fell as U.S. President Donald Trump’s tariff threats against Britain and seven other European nations sent shockwaves through global markets, though a bright spot emerged as insurer Beazley surged to a record high on a sweetened takeover bid from Zurich Insurance.
