According to the ONS, the squeeze on UK household budgets tightened further in April also on a British tax hike as the government looks to improve state coffers battered by Covid support.

Last week, Luna and another currency that Kwon developed, TerraUSD, suffered a spectacular collapse. Their meltdowns had a domino effect on the rest of the cryptocurrency market, tanking the price of bitcoin and accelerating the loss of $300 billion in value across the crypto economy. This week, the price of Luna remained close to zero, while TerraUSD continued to slide.

Tesla has become the most valuable auto industry company by pioneering EVs and expanding into battery storage for electric grids and solar-power systems.

Spot gold held its ground at $1,816.63 per ounce at 0047 GMT. U.S. gold futures edged 0.1% lower to $1,814.10.

Brent crude futures were up $1.15, or 1.0%, at $113.08 a barrel at 0042 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed $1.62, or 1.4%, to $114.02 a barrel, paring some losses after oil prices fell by around 2% in the previous session.

Data show the value index outperformed the growth index during rising inflation and rates, while it has largely declined in periods of falling 10-year bond yields.

Even though Tesla is contributing to reducing emissions with its electric cars, Dorn said, its issues and lack of disclosures relative to industry peers should raise concerns for investors looking to judge the company across environmental, social and governance (ESG) criteria.

Market experts said that these megacaps have a global reach and if one market is down, another is there to offset the impact and trim the losses. However, currently the entire global space is under pressure and might take some time to settle down.

The results, announced after market hours, exceeded street expectations for both revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA). In fact, the ITC scrip gained 0.72% to close at Rs 266.5 on the Bombay Stock Exchange on Wednesday, when the Sensex closed at a decline of 0.2%.

The fund will have a diversified investment universe and be sector-agnostic. The Kotak Private Credit Fund will also have a greenshoe option to raise another Rs 1,000 crore.