the imap immediately condemn the idea of the bank of england condemn the idea. but simon, this is a speculative attack that we're seeing in the corporate realm, micro strategy headed up by of course, one of the top ceos in the country. michael sailor. and they are doing this. they're raising money in dollars, and they're using money to buy bitcoin. here you have el salvador, a country, they're raising money in dollars via this volcano bond, but they're going to put half of the 1000000000 into bitcoin. this is a spectacle of attack on the us dollar and the money and the central banks around the world. simon, is that overstating it? no, no, really it's, it's not an overstatement because this is p countries using big coin the way it was designed to use. many people use bitcoin a classroom so they can borrow some dollars because historically with excessive money printing dollar value goes down because the coins, money supply is fixed, is just basic supply and demand economics be in place here at the country that some individuals have been doing that for a long time,

dani: i'm looking at imap at the moment. it is a textbook move to safety in this equity market at the moment. red across the board. europe is having to reverse, as well. the only solid chunk of gains is in health care. this is one of those assets, perhaps a little bit of consumer goods, as well. elsewhere, even as you are pointing out, we are not seeing energy outperform. materials are still weaker. investors taking this opportunity to sell across the board. we are seeing tech also in the red. tom: that was interesting from apple's perspective given that they have already cut production by about 10 million units for the iphone. according to the bloomberg scoop, with the demand picture for the iphone 13 weakening, that message to suppliers around that impact, we will see how the readthrough is for suppliers to apple. losses of's 2.5%. you can look at asml and terms of what this means broadly across the chip space. dark trace. the record run-up it saw after the ipo in april, the run up until september, but there was a drop of

here it is in the imap. lots of red on the screen. 10 out of 11 sectors down.cal sectors, the reopening trades, they are down. as for the tech losers. it is not brutal relative to the selling we have had recently, but apple down 1.5%, nvidia, microsoft. last week we took a look at the apple chart and it was oversold. coming out of oversold territory and heading down towards the moving averages suggesting more weekend ahead. alix: volume is ok. it is not terrible, it is not great. it is in line with the 20 day moving average. abigail: that is towards guy's point that this is a weak week to say whether we could take too much out of it. alix: thanks a lot. let's stay with the market. in italian fashion company hits the market in a 3 billion-dollar spac listing. the italian fashion company to be listed in new york. gildo zegna will be joining us now. congratulations. it has been quite a ride in this market. why spac in this market? consumers will have to deal with covid. why now? gildo: hello, everybody. why now? we planned this before the summer. we created a spac

dani: tom, it's a positive day looking at imap, the sector breakdown for you so far this morning. let me start with the opec-plus decision, helping out some of the material stocks, this chunk in the green, energy also in the green, as well. not a lot of areas will you find a move to the red and staples over here. that seems to be it. we are ending the week after somewhat of a roller coaster ride. however this will signify gains up around .7% so far on this broader market. if we're able to hold that, we will end the week higher. that will help mask the drama underneath. is this a regime change? can this last if we do get more cases in europe? so far, markets able to push higher. tom: a couple corporate stories in focus, down there on the board approving $68 billion in spending. some of it new, some of it old for mercedes cars and trucks to revolutionary transform to electric vehicles, gains of over 1%. their critics say they're not doing enough to catch up with tesla, etc. in terms of telecom italia, the news yesterday that the government is looking at protecting some of the sensit

let's have a look, please, at your imap function. your second group, this is what we are seeing.ention, copper still under pressure against growth concerns with omicron, and india coming online in the next hour. rishaad: i think the most extraordinary thing today thus far -- and you have to say thus far because of how quickly events are moving -- was the yuan. without 31 since yesterday was a huge divergence, but today -- wow. that is something. that is the most on record that we have seen, haven't we? yvonne: a little bit of a retreat after what had been an interesting and strong rally. we've got plenty more in the next hour of "bloomberg markets: asia." stay with us. this is bloomberg from hong kong. ♪ - [announcer] imagine having fuller, thicker, more voluminous hair instantly. all it takes is just one session at hairclub. introducing xtrands. xtrands adds hundreds or even thousands of hair strands to your existing hair at the root. they're personalized to match your own natural hair color and texture, so they'll blend right in for a natural, effortless look. call in the next