Tencent Music Puts IPO on Hold Amid Turbulent Market Conditions

Tencent Music Puts IPO on Hold Amid Turbulent Market Conditions

Tencent Music patiently waits for the storm to move.

On October threerd, the Dow Jones Industrial Average reached a document excessive of 26,336.62.

Since then, shares have fallen sharply.  On Wednesday, the Dow Jones dropped 800 factors.  Amazon misplaced 6.2%.  Netflix went down eight.four%.  Spotify’s shares went under $155 earlier than closing barely above $152 on Thursday.

The American inventory market wasn’t alone.  Yesterday, European inventory markets hit their lowest ranges in almost 2 years.  In the United Kingdom, the Financial Times Stock Exchange (FTSE) 100 fell 10% from its peak in May.

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So, what’s spooked international markets?  Primarily, the offender is rising US rates of interest.  According to The Guardian, the rates of interest may cease development within the US and harm different international markets.

Now, one Chinese music firm has reportedly put its highly-anticipated IPO on maintain because the US and different international markets battle to get better.

Waiting for the storm to blow over.

Amid rising tensions within the US and China commerce wars, Tencent Music has reportedly delayed its IPO.