U.S. investors had the jitters on Tuesday, worried over third-quarter earnings reports and hoping for some clarity on the timing of a possible bailout request from Spain.
The day started in Asia with the key indices ending their trading sessions mixed. The Nikkei 225 in Tokyo was down 0.1 percent to 8,786.05, while the Hang Seng Index in Hong Kong was up 0.4 percent to 20,840.38.
European markets closed slightly down after a relatively flat day of trading, as investors awaited details on the timing of a possible Spanish bailout.
The CAC 40 in Paris fell by 0.6 percent to 3,414.24. The DAX in Frankfurt dropped by 0.3 percent to 7,305.86; the FTSE 100 in London and the FTSE MIB in Milan were both down 0.2 percent to 5,809.45 and to 15,495.79, respectively.
Overall, retail and luxury stocks made gains, with the day’s strongest performers including Compagnie Financière Richemont, which was up 2 percent to 58.65 Swiss francs, following an announcement earlier in the day that it had acquired the Swiss watch and components manufacturer VVSA. Other risers included Mulberry, up 2.4 percent to 12.30 pounds; ASOS, 2.8 percent to 22.40 pounds; Brunello Cucinelli, 1.8 percent to 13.80 euros; and Yoox, 1.8 percent to 10.18 euros.
Last week, Spain’s government said that debt levels would likely increase further in 2013, reaching 90.5 percent of the country’s gross domestic product. Spain is widely expected to ask for a bailout from the EU and the International Monetary Fund, following in the footsteps of Greece, Portugal and the Republic of Ireland.
Spain’s Prime Minister Mariano Rajoy indicated that a request wasn’t imminent.
The skittishness of investors hit the U.S. equity markets mid-day, and ultimately resulted in the Dow Jones Industrial Average falling 0.2 percent to 13,482.36. The S&P Retail Index was down 0.4 percent to 653.92.
The retailer that lost most ground was Express Inc., which dropped 22.2 percent to $11.68, after the retailer lowered its third quarter profit forecast. Other retailers that posted declines were J.C. Penney Co. Inc., which lost 4.2 percent to $23.56, and Ann Inc., down 3.3 percent to $36.46.
Bon-Ton Stores Inc. was one of the few that bucked the trend and rose 7.5 percent to $11.12.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)