infineon down 10% in the trading picture.ven lufthansa losing 6% today and bt being 5% weaker 3% loss there with the results g picture. in the united states, this is what we had seen for the market picture. losses across most of the board. we have seen the nasdaq record its worst day since february as the tech stocks began to tumble out on that front. both s&p and dow jones industrial average closing lower. more than 2% the worst day on record for the nasdaq since february. that is deep selloff there breaking the streak of not losing more than 1% for the s&p. down 1.3%. >>> let's get into the treasuries following the downgrade from fitch the 10-year treasury rising to the highest level of november of 2022 that is all on the back of what we are seeing. 4.157 currently. european neyields are down. interesting to take note to see how this fares all of these will still be impacted by that downgrade coming from fitch. u.s. futures here. this is how we see the market. stock futures going down today we are seeing things contending w

we have got infineon crossing the terminal.reporting its fourth-quarter segment result margin of about 25%, just under analyst estimates, which was 25.8% on average. you're also seeing third-quarter revenue at 4.0 9 billion euros, beating estimates just slightly. total segment profit coming in at 1.0 7 billion euros, slightly beating estimates. it sees full-year revenue at 16.2 billion euros. so, still around that. it's going to invest more in one of its malaysian sites as well. infineon is the market leader in the supply of semiconductor equipment. demand for that has been growing for electrical vehicles. profit guidance has been repeatedly upgraded over the past 18 months. we have seen the shares up 36% year to date. we will be speaking to the cfo of infineon. that interview at 7:00 a.m. u.k. time on bloomberg markets today. we also have breaking earnings from two of germany's biggest firms, adidas and bmw. bmw raised its outlook for vehicle deliveries. i want to get to oliver crook for the latest on those. who better to driv

moments ago i had infineon on in here and i switched it out for credit agricole. they are getting close to a bid. interesting to see whether that deal goes through. the pound, let's talk about that. a little bit softer. there is so much to discuss around the bank of england. we will do that in just a moment. talk about rates being restrictive. how much further could we see the bank of england going? there are lots of questions that need to be asked and answered. kailey: we will get to those in just a second but i want to touch on the u.s. markets because we are coming off of the worst day for the s&p 500 since april and we are seeing losses continued though they are smaller. the s&p down .4%. the nasdaq .2%. apple and amazon reporting after the bell. a lot of the movement is in the bond market. it is in the longer end of the curve. the 30 year flying as is the 10 year. that is the highest level the yield has been since november. the two year is doing nothing. what we end up with today is a steeper yield curve. guy: treasury boosting the side is of the bid options

picture from the bank of england is significant and key we had tech earnings come out today with infineon europe pointing down infineon saying demand for its chips are said to be weaker. iphone or smartphone market is not necessarily up to scratch. they will get some suffering and huawei with the ban from the united states with their chips which is a downfall. 10% down on infineon overall although there is a bit of a pullback, the ftse 100 in the uk and ftse mib in italy was down 1.5% this is what with the yields picture is looking like ahead of the bank of england decision the 10-year managed to gain 1 basis pointis currently sitting8 on the lower end of the scale, we are seeing a little bit of pullback five-year is managing to go down four basis points. the 2-year gilt is 4.193 the bank of england is all but certain to deliver the 14th straight hike taking rates to the highest level since 2008 the question is whether it will be 50-basis points or 25-basis points markets are pricing in a 2/3 chance the bank will slow the pace of hikes to 25 points and the implied probability of 50 points

. -- or infineon. $10 million to intel. this is front and center for the german government.ou have all the chips for the cars you need but also to remain relevant going into the future. guy: does germany have the skill set to do this? guest: the answer is sort of but not in the volume that is required. it is being built in a slightly more compelling term man the london roundabout. you are talking about a german workforce losing 400,000 people per year. a deficit of potentially 7 million workers by 2035. you have some of the educational facilities there, but not the right number of people. saxony is one of the counties massively anti-immigration. government in power that is hostile toward immigration, to be a problem. alix: absolutely, just look at the later -- they were shortage here in the u.s.. coming up, the sale of u.s. treasury. we will break down what to expect. this is bloomberg. ♪ my cpa told me i wouldn't qualify for the erc tax refund, so i called innovation refunds. their team of independent tax attorneys will work with your cpa to determine if your company is eli

for the ftse 100 same for the ftse mib in india it had been the story of chips much like qualcomm, infineon has brought out numbers and saying that demand outlook is not looking too good for the business they he ave gone down. that share price down 10% today. another european chipmaker going down 3% for ami. the sentiment held the same then negative across the board. a lot of sectors holding down negative counters. tech stock leading the downturn. that is followed by autos and resources which are around 1.5% weaker today even the banking stocks which bucked the trend in the early morning trade. it is negative it is still earnings that we are following and that bank of england decision later today 25-basis point hike anticipated, but 50 basis is still in play. dom. >> arabile, thank you for the update turning to the action in asia. sherry chang with the latest in hong kong. good evening, sherry >> good morning, dom we saw some pairing back earlier losses in japan and china. showing some -- bucking the trend after the behavior with the selloff. closing higher by 0.9% for the day. we have anot

infineon broke ground. 10 billion euros worth of investment.are very desperate to get the skies and. this is going to be my elegant segway. one we all think of is tesla. yesterday we learned that the cfo is leaving. >> he will stick around through the end of the year which is the former chief accounting executive. he is of the executive level. this is a major blow. this is a coming that was burning up to a billion dollars every single quarter. it became profitable when they became cfo. it became an investment grade company and it has rally since he took over. we don't know about the individual taking over. the chief account executive. for investors, kirk arne on his way out, this was an act of investor call. giving detail and specifics to analysts who care about that sort of thing. we shouldn't lose track of the fast that elon musk had his mri and we will get an update on the thunderdome fight. >> you want someone at the helm not currently distract it getting ready to fight in zuckerberg. brumberg's -- bloomberg's oliver kirk. i don't think we