00:00Hello and welcome to Gulf News Daily Business Wrap-Up.
00:05This is Desh Anand taking stories that are making headlines today.
00:08It has been not a very merry Christmas for markets so far in December.
00:12The Japan's Nikkei tumbled more than 6 percent in trading on Tuesday after U.S. markets declined
00:21nearly 3 percent overnight.
00:23Remember that U.S. markets have been falling because of concerns over growth.
00:29More than expected hike in interest rates as well as impact from the trade war.
00:35The market's carnage has added one other dimension to the story.
00:38Now it's from politics.
00:40Apparently Donald Trump, the U.S. President, wants to sack Stephen Mnuchin, the Treasury
00:45Secretary, making him the scapegoat for this market carnage.
00:50Remember that the Secretary was assuring investors that President Trump doesn't have the powers
00:55to sack Fed Chief Jerome Powell.
00:59Nissan Motors has asked all its employees not to get in touch or foredo any form of
01:04communication with the arrested former Chairman Carlos Ghosn and Greg Kelly.
01:09Remember that these executives were arrested on account of accounting or financial misappropriation
01:16that resulted in Japanese police arresting these top officials.
01:21That's it from me and thanks for watching.
01:23For more you can log on to gulfnews.com slash business and a merry Christmas to all.
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