The most prominent tech companies of America and the world, both Apple and Tesla’s stocks have reportedly fallen due to the growing concerns regarding the delays in their production lines based in China. Apple shares plunged to its lowest point since June, 2021 while Tesla's shares have dropped 73% when compared to its record high registered in November 2021.
Companies are struggling to keep the production running in China due to the recent Covid restrictions and endless lockdowns. It is now the turn of the staffing crunch as China is facing a massive Covid wave after lifting three years of restrictions.
China’s announcement to ease its strict quarantine rules for travellers has been seen as a positive sign for foreign investors hoping for better supply chain movement in the year 2023. However, global investors are equally cautious due to additional interest rate hikes, a global financial slowdown and the ongoing war in Ukraine.
Russia Reissues Nuclear Threat Over Ukraine
Reduced fear in the public consciousness for decades, the dreaded nightmare of nuclear warfare is now again gaining prominence following Russia's invasion of Ukraine, showcasing how the Cold War’s global security architecture is crumbling down.
Since Moscow is currently on the back foot in its latest offensive, the ongoing military stalemate has raised real fears that Russia might use its nuclear arsenal to finally achieve a much-needed breakthrough.
The five recognized nuclear weapons powers in the world are Russia, along with Britain, China, France and the United States, which are also the permanent UN Security Council members. Since Ukraine is resisting fiercely, there are reports that Vladimir Putin may order a nuclear strike anytime against Ukraine.
